Most of the Asian equity benchmarks are trading lower in the early deals on Monday as materials and information technology shares led declines after a regional benchmark index posted the biggest weekly advance since April. The measure last week posted its biggest weekly advance since April as Chinese shares rallied amid speculation banks will support the market and as the increased likelihood of an end to Greece’s debt crisis bolstered global equities. Among other Asian markets, Shanghai, Hong Kong, South Korea, Malaysia and Taiwan are down with modest losses. Meanwhile, Singapore is in positive territory. The markets in Japan and Indonesia are closed in observance of Marine Day and Eid-ul-Fitr, respectively.
Hang Seng dipped 60.57 points or 0.24 % to 25,354.70, KOSPI Index declined 5.44 points or 0.26% to 2,071.35, Taiwan Weighted contracted 62.56 points or 0.69% to 8,983.42, Shanghai Composite decreased 17.21 points or 0.43% to 3,940.15 and FTSE Bursa Malaysia KLCI was down by 4.46 points or 0.26% to 1,722.27.
On the flip side, Straits Times was up by 10.88 points or 0.32% to 3,364.33.