Asian currencies in tight range
Indonesia's rupiah slipped to a near three-week low, while equities pared early gains to trade slightly up. The Malaysian ringgit, the Philippine peso, Singapore's dollar and Taiwan's dollar also edged lower.
South Korea's won and the Indian rupee held steady near their previous session's close.
Asian currencies were in a tentative mood on Tuesday, said Jeff Ng, head of Asia macro strategy, Sumitomo Mitsui Banking Corp, adding that investors were awaiting further clarity on trade tariffs.
China reported second-quarter economic growth that beat market estimates but fell short of the prior quarter's pace. While the economy has so far avoided a sharp slowdown, markets are bracing for a weaker second half as US tariffs weigh on exports.
One of the key focal points during trade talks between the United States and trade partners have been levies on trans-shipments as US President Donald Trump seeks to curb China's trade penetration in the region.
'We think (China's) exports could slow visibly in H2, likely to close to zero in H2, especially if other countries start cracking down on transshipments under US pressure,' Barclays analysts led by Yingke Zhou said in a client note.
The Shanghai Composite index fell 1% to a one-week low, while the blue-chip CSI300 Index shed early gain to slip 0.5%. The Chinese yuan drifted lower against the US dollar.
Equity markets in emerging Asia were mixed: Singapore's stocks extended their recent rally, nudging higher to set an all-time high for the tenth consecutive day.
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