Asian equity markets ended in red on Tuesday after oil prices fell more than 5 percent overnight. Oil prices suffered a sharp decline as a result of a global supply glut. The Organization of the Petroleum Exporting Countries' (OPEC) failed to reach an agreement to reduce production levels when it met on Friday. Chinese stocks posted their biggest loss in 10 days, as disappointing China trade data and slumping oil prices unnerved investors already cautious ahead of an anticipated US rate hike that could trigger more capital outflows. China's exports fell by a more-than-expected 6.8 percent in November from a year earlier, a fifth straight month of decline. Imports, meanwhile, were down 8.7 percent on-year. There was a trade surplus of $54.10 billion. Japan’s stocks fell as a rout in oil and commodity prices dragged energy and material shares lower, outweighing a report showing the nation’s economy avoided a recession in the third quarter. Reports showed the revised Q3 GDP grew 1 percent on-quarter, on an annualized basis. The number beat previous estimation of a 0.8 percent contraction during the same period. Hong Kong stocks closed at a two-month low, tracking sluggish global markets, as slumping oil prices dented already fragile investor confidence ahead of a likely US rate hike.
| Asian Indices | Last Trade | Change in Points | Change in % |
| Shanghai Composite | 3,470.07 | -66.86 | -1.89 |
| Hang Seng | 21,905.13 | -298.09 | -1.34 |
| Jakarta Composite | 4,464.18 | -57.21 | -1.27 |
| KLSE Composite | 1,669.24 | -2.76 | -0.17 |
| Nikkei 225 | 19,492.60 | -205.55 | -1.04 |
| Straits Times | 2,876.03 | -24.89 | -0.86 |
| KOSPI Composite | 1,949.04 | -14.63 | -0.75 |
| Taiwan Weighted | 8,343.86 | -110.41 | -1.31 |