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Asian markets trade mostly lower in early deals on Tuesday

02 Jun 2015 Evaluate

Most of the Asian equity benchmarks are trading lower in the early deals on Tuesday, ahead of the release of central bank decisions in Australia and India. The Reserve Bank of Australia (RBA) is expected to leave its cash rate steady at a record low of 2 percent, following two 25-basis-point rate cuts earlier this year. The Japanese market declined though expectations for better shareholder returns continued to support the market, while the weak yen lifted exporters such as Toyota Motor Corp. Among other markets in the Asian region, Shanghai, South Korea, Singapore, Hong Kong, Malaysia and Japan are down with modest losses while, Taiwan is higher.

Nikkei 225 dipped 23.11 points or 0.11 % to 20,546.76, KOSPI Index contracted 24.29 points or 1.16 % to 2,078.08, FTSE Bursa Malaysia KLCI decreased 0.14 points or 0.01 % to 1,743.27, Straits Times declined 43.24 points or 1.27 % to 3,348.87, Shanghai Composite crumbled 1.88 points or 0.04 % to 4,826.86 and Hang Seng was down by 204.52 points or 0.74 % to 27,392.64.

On the flip side, Taiwan Weighted was up by 3.41 points or 0.04 % to 9,629.10.

 

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