Asian markets were trading mostly in red terrain in early deals on Tuesday after leaders of the G7 group of rich nations failed to make progress on narrowing differences on climate change and North Korea fired another missile off its east coast. Japanese market was down as the yen strengthened against the dollar to reach a 12-day high on concerns about a Greek bailout and amid speculation that Italy may head to the polls in the early autumn. Meanwhile, Japanese household spending declined again in April, while retail sales rose more than expected and the jobless rate held steady at a two-decade low in the month, Consumer price inflation rose an annual 0.3 percent, well below the BOJ’s 2 percent target. Markets in China and Taiwan remained closed on the back of Dragon Boat Festival, while Hong Kong markets remained closed on account of Tuen Ng Festival.
Nikkei 225 decreased 26.54 points or 0.13% to 19,656.03, KOSPI Index shed 9.23 points or 0.39% to 2,343.74 and FTSE Bursa Malaysia KLCI was down by 0.21 points or 0.01% to 1,764.68. On the flip side, Jakarta Composite was up by 10.61 points or 0.19% to 5,722.95.