All the Asian equity benchmarks barring Nikkei 225 are trading higher in the morning deals on Tuesday on bargain hunting despite a weak lead from Wall Street where stocks ended sharply lower overnight. However, the mood is somewhat cautious in the region amid lingering concerns about the global economy and on geopolitical worries due to the unrest in Hong Kong and Iraq. Meanwhile, Japanese stocks dropped as the traders indulged in some heavy selling across the board amid concern about weakening economic growth also on the Yen's upmove against the greenback. In the economy news, an index measuring producer prices in Japan was down 0.1 percent on month at 106.3 in September that was in line with forecasts following the 0.2 percent decline in August. Among other markets in the Asia-Pacific region, Hong Kong is notably higher, while, Indonesia, Malaysia, Shanghai, South Korea, Taiwan and Singapore are up with modest gains.
Hang Seng surged 151.28 points or 0.65% to 23,294.66, KOSPI Index increased by 6.82 points or 0.35% to 1,934.03, Straits Times spurted by 6.87 points or 0.21% to 3,209.02, Jakarta Composite added 14.36 points or 0.29% to 4,927.42, Shanghai Composite gained 2.79 points or 0.12% to 2,368.80, FTSE Bursa Malaysia KLCI improved 1.00 points or 0.06% to 1,798.20 and Taiwan Weighted was up by 24.01 points or 0.28% to 8,735.40.
On the flip side, Nikkei 225 was down by 280.25 points or 1.83% to 15,020.30.
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