Most of the Asian equity benchmarks are trading lower in the early deals on Tuesday as investors nervously awaited the outcomes of two-day Federal Reserve and Bank of Japan policy meetings later in the week. Further, the flat lead overnight from Wall Street also fuelled the downtrend. Japan’s Nikkei Stock Average is trading lower despite bank stocks bouncing back from recent losses due to speculation that the BOJ would cut its interest rate on excess reserves further into negative territory. Among the other Asian markets, Shanghai, Hong Kong, Singapore, Indonesia, and Malaysia are in negative territory. Bucking the trend, South Korea and Taiwan are modestly higher.
Nikkei 225 dipped 22.74 points or 0.14% to 16,496.55, Hang Seng slipped 49.64 points or 0.21% to 23,500.81, Shanghai Composite declined 1.98 points or 0.07% to 3,024.08, Straits Times dropped 7.68 points or 0.27% to 2,844.46, FTSE Bursa Malaysia KLCI decreased 3.20 points or 0.19% to 1,648.51, and Jakarta Composite was down by 10.10 points or 0.19% to 5,311.74.
On the flip side, KOSPI Index added 4.21 points or 0.21% to 2,019.99, and Taiwan Weighted was up by 13.13 points or 0.14% to 9,166.01.
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