Most of the Asian equity benchmarks are trading in red in the early deals on Tuesday as investors stepped back after several days of advances, erasing early gains. Markets are awaiting the Federal Reserve meeting on Wednesday and the outcome of a major Chinese planning conference. Further, China and Hong Kong stocks fell as investors brace for a likely hike in US borrowing costs this week. Among the other Asian markets, Japan, South Korea, Singapore, and Taiwan are lower. Bucking the trend, Indonesia, and Malaysia are in positive territory.
Nikkei 225 dropped 54.1 points or 0.24% to 22,884.63, Straits Times reduced 9.00 points or 0.26% to 3,451.45, Hang Seng declined 132.63 points or 0.46% to 28,832.66, Taiwan Weighted contracted 39.99 points or 0.38% to 10,433.10, Shanghai Composite decreased 19.07 points or 0.57% to 3,303.13, and KOSPI Index was down by 14.76 points or 0.6% to 2,456.73.
On the flip side, FTSE Bursa Malaysia KLCI added 1.58 points or 0.09% to 1,721.05, and Jakarta Composite was up by 1.79 points or 0.03% to 6,028.42.