Most of the Asian markets are trading in red in early deals on Tuesday amid rising fears of a global trade war between the US and other leading economies. The Trump administration's plans regarding investment restrictions have heightened risk aversion. Crude oil prices rose in Asian trade after declining overnight. Meanwhile, Japanese stocks slumped to 3-1/2-week lows, joining a global selloff as an intensifying trade row between the United States and major economies knocked risk appetite, with large cap shares such as SoftBank leading the slide. Among the other Asian markets, Hong Kong, Singapore, Shanghai, South Korea, and Taiwan are in negative territory. Bucking the trend, Indonesia, and Malaysia are higher.
Nikkei 225 declined 36.37 points or 0.16% to 22,301.78, Hang Seng dropped 62.75 points or 0.22% to 28,898.64, Straits Times dipped 4.65 points or 0.14% to 3,256.19, Taiwan Weighted slipped 50.53 points or 0.47% to 10,735.93, KOSPI Index contracted 10.72 points or 0.46% to 2,347.16, and Shanghai Composite down by 23.46 points or 0.83% to 2,835.88.
On the flip side, FTSE Bursa Malaysia KLCI gained 0.64 points or 0.04% to 1,678.74, and Jakarta Composite up by 5.60 points or 0.10% to 5,864.68.
