While Asian stock market indices were trading mixed on Wednesday (20 July), the Shanghai Composite Index was down 0.03% at 3,035.79 as of 5.07am GMT, following the International Monetary Fund (IMF) cutting the economic growth forecast for the UK post Brexit. However, the IMF ruled out a recession in Britain.

Asian stock markets trade mixed following IMF’s decision to cuts UK growth forecasts
Asian stock markets trade mixed on 20 July Reuters
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As per IMF's World Economic Outlook, the UK's economy is now forecast to grow at 1.7% in 2016, against the earlier 1.9% growth projection, which it blamed on expectations of a "significant" fall in domestic demand". For 2017, the forecast took a deeper hit, down from 2.2% to 1.3%.

The mixed trading in Asia also followed a mixed close on Wall Street overnight. While the S&P 500 index closed lower, the Dow Jones Index closed higher. This was amid mixed second-quarter earnings results in the US, according to a news report.

Indices in the rest of Asia traded as follows on 20 July at 5.33am GMT:

CountryIndexPriceUp/Down%Change
Hong KongHang Seng Index21,830.26UP0.72%
JapanNikkei 22516,676.83Down0.28%
South KoreaKOSPI2,012.92Down0.20%
IndiaCNX Nifty8,547.20Up0.22%
AustraliaS&P/ASX 2005,482.60UP0.57%

Overnight (19July), the Dow Jones Industrial Average closed at 18,559.01, up 0.14%, while the FTSE 100 closed at 6,697.37, up 0.03%

Among commodities, oil prices recovered after touching two-month lows amid oversupply concerns. While WTI crude oil was trading higher by 0.31% at $44.79 (£34.19,€40.67) a barrel, Brent crude was trading 0.26% higher at $46.78 a barrel as of 5.43am GMT.

IMF International Monetary Fund