Most of the Asian equity benchmarks are trading lower on Tuesday on the back of a somewhat flat close on Wall Street overnight. Meanwhile, the Japanese stock market rallied sharply with investors picking up stocks following the Tankan survey showing an improved outlook and on slightly weaker yen. On the economic front, the Tankan survey showed a decline in the key diffusion index of large manufacturers in June. But the survey showed large companies are planning to boost their capital spending by 7.4 percent in the financial year through March, up sharply from a previous 0.1% rise forecast in the March survey. Among other markets in the Asia-Pacific region, Singapore, Indonesia, Malaysia, Shanghai and South Korea are trading weak, while Taiwan is trading higher.
KOSPI Index slipped 5.90 points or 0.29% to 1,996.31, Straits Times declined by 14.26 points or 0.44% to 3,241.41, Jakarta Composite decreased 10.71 points or 0.22% to 4,867.87, Shanghai Composite tumbled by 3.32 points or 0.16% to 2,045.01 and FTSE Bursa Malaysia KLCI was down by 5.30 points or 0.28% to 1,877.41.
On the flip side, Nikkei 225 soared 185.64 points or 1.22% to 15,347.74 and Taiwan Weighted was up by 54.70 points or 0.58% to 9,447.77.
The Hong Kong market remained shut for the trade today for Holiday.