Asian markets slid on Tuesday morning trade as post-Greek election rally ran out due to rise in yields of Spanish and Italian bond. Sunday's election result removed concerns that Greece could imminently be forced out of the euro zone but it brought no relief to broader worries that the two-and-a-half-year-old credit crisis is spreading to some of the larger economies of euro zone. European stock markets gave up early gains to end in lower sentiment on Monday and US stocks were passive with the Dow Jones Industrial Average ending in negative. The euro traded around $1.2592 on early hours on Tuesday but later went down around 0.5 per cent from Friday's close. Investors are passive to make large bets ahead of a two-day Federal Reserve policy meeting starting on Tuesday with attention focused on whether the US central bank will unveil any more stimulus measures to support flagging growth.
Shanghai Composite declined 12.57 points or 0.54 per cent to 2,303.48, Hang Seng Index shed 45.47 points or 0.23 per cent to 19,382.34, Nikkei 225 slipped 22.42 points or 0.26 per cent to 8,698.60, KOSPI Composite Index dipped 0.21 points or 0.01 per cent to 1,891.92 and Taiwan Weighted dropped 20.27 points or 0.28 per cent to 7,261.23.
On the other hand, Jakarta Composite rose 2.89 points or 0.07 percent to 3,863.04, KLSE Composite advanced 6.26 points or 0.40 per cent to 1,588.99 and Straits Times Index gained 19.14 points or 0.68 percent to 2,843.36.