Asian equity indices are trading lower in the early deals on Tuesday following an overnight decline on Wall Street after Facebook reported its worst loss in four years. Investors are awaiting outcome of the first Federal Reserve meeting under the new chairman, Jerome Powell, and anticipating the first rate increase of the year. Meanwhile, the Japanese market is extending losses from the previous session, reflecting weakness in technology stocks following a plunge in Facebook shares. Ongoing worries about the political uncertainty in Japan also dragged stocks lower.
Nikkei 225 declined 160.76 points or 0.75% to 21,320.14, Hang Seng dropped 169.56 points or 0.54% to 31,344.20, Jakarta Composite contracted 64.8 points or 1.03% to 6,224.77, Taiwan Weighted dipped 53.78 points or 0.49% to 10,993.12, Shanghai Composite slipped 8.43 points or 0.26% to 3,270.82, KOSPI Index tumbled 5.98 points or 0.24% to 2,469.05, Straits Times decreased 4.69 points or 0.13% to 3,493.60, and FTSE Bursa Malaysia KLCI down by 2.91 points or 0.16% to 1,845.03.
