After witnessing massive gains in previous two sessions, Asian counters snapped the day’s trade on a mixed note on Tuesday as investors remained on the sideline ahead of Federal Open Market Committee’s (FOMC's) two-day meeting which will start from today. Moreover, the relief from Greece’s election results has faded away amid concern that the financial crisis in the 17 nations that use the euro was far from over. Moreover, the investors shifted their attention back to Spain, whose borrowing costs surged Monday above the 7 percent level that had forced Greece, Portugal and Ireland to seek international help. Meanwhile, Hong Kong benchmark Hang Seng and Japanese benchmark Nikkei dropped 0.27% and 0.75% respectively on renewed euro zone fears after Italian and Spanish bond yields spiked, with investors staying away from risky bets. Likewise, Shanghai too ended in the red due to loom surrounding the euro zone debt crisis which have been shifted to Spain after Sunday’s Greek election.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 2,300.79 | -15.26 | -0.66 |
Hang Seng | 19,375.54 | -52.27 | -0.27 |
Jakarta Composite | 3,880.82 | 20.66 | 0.54 |
KLSE Composite | 1,594.98 | 12.25 | 0.77 |
Nikkei 225 | 8,655.87 | -65.15 | -0.75 |
Straits Times | 2,842.41 | 18.19 | 0.64 |
KOSPI Composite | 1,891.77 | 0.06 | 0.00 |
Taiwan Weighted | 7,273.13 | -8.37 | -0.11 |