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Asian markets trade mostly lower in early deals on Tuesday

28 Jul 2015 Evaluate

Most of the Asian equity benchmarks are trading lower in the early deals on Tuesday, as the rout in Chinese stock markets drove global equities lower and increased risk aversion. Weak commodity prices also weighed on investor sentiment. Investors are treading cautiously ahead of a two-day US Federal Reserve meeting that begins later in the day. Further, Japan's Nikkei share average dropped to a more than two-week low as investors worried that a fresh rout in Chinese shares would damage China's economy and as commodity prices tumbled. Among the other Asian markets, Shanghai, South Korea, Singapore, and Indonesia are also lower. Meanwhile, Hong Kong, Malaysia and Taiwan are marginally higher.

Nikkei 225 contracted 4.65 points or 0.02% to 20,345.45, KOSPI Index dropped 1.14 points or 0.06% to 2,037.67, Straits Times slipped 18.13 points or 0.55% to 3,295.29, Shanghai Composite dipped 37.08 points or 1.00% to 3,688.48 and Jakarta Composite was down by 34.90 points or 0.73% to 4,736.39.

On the flip side, Hang Seng increased 369.33 points or 1.52% to 24,721.29, FTSE Bursa Malaysia KLCI surged 1.73 points or 0.10% to 1,711.49 and Taiwan Weighted was up by 52.69 points or 0.62% to 8,609.37.

 

 

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