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Asian markets trade mostly lower in early deals on Tuesday

24 Mar 2015 Evaluate

Most of the Asian equity benchmarks are trading lower in the early deals on Tuesday, due to weak cues overnight from Wall Street and as data showed that the manufacturing sector in China, the world's second-largest economy, dipped into contraction territory in March. The manufacturing sector in China dipped into contraction territory in March, the latest survey from HSBC Bank showed on Tuesday, with a PMI score of 49.2. Meanwhile, the Japanese market is in negative territory, as investors resorted to profit taking following the recent strong gains but continuing ongoing expectations of better returns for holders of Japanese shares limited losses and supported overall sentiment. Among the other markets in the Asia-Pacific region, Shanghai, South Korea, Hong Kong and Taiwan are lower. Meanwhile, Singapore, Indonesia and Malaysia are in positive territory.

Nikkei 225 crumbled 19.60 points or 0.10% to 19,734.76, Hang Seng dipped 150.52 points or 0.61% to 24,343.99, KOSPI Index declined 1.12 points or 0.05% to 2,035.47, Taiwan Weighted slipped 28.08 points or 0.29% to 9,730.01 and Shanghai Composite was down by 49.66 points or 1.35% to 3,638.07.

On the flip side, Straits Times gained 1.36 points or 0.04% to 3,411.49, FTSE Bursa Malaysia KLCI jumped 10.33 points or 0.58% to 1,806.18 and Jakarta Composite was up by 9.55 points or 0.18% to 5,446.64.

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