Asian market indices are exhibiting a mixed trend in early deals on Tuesday after Wall Street declined as Turkey's central bank struggled to contain a currency crisis that is feeding fears about other emerging markets. The Japanese market is notably higher after touching a one-month low in the previous session amid worries about the financial crisis in Turkey. In addition, a weaker yen lifted exporters' shares. Though, China’s stock markets fell as new data showed further signs of cooling in the world’s second-largest economy, with fixed-asset investment growth at its slowest pace since at least 1996. Among the other Asian markets, Hong Kong, Singapore, Malaysia, and Indonesia are lower. Bucking the trend, Taiwan and South Korea are in positive territory.
Hang Seng dropped 249.58 points or 0.90% to 27,686.99, Straits Times declined 5.68 points or 0.18% to 3,239.66, Shanghai Composite tumbled 14.06 points or 0.51% to 2,771.81, FTSE Bursa Malaysia KLCI decreased 0.07 points to 1,783.27, and Jakarta Composite down by 21.68 points or 0.37% to 5,839.57.
On the flip side, Nikkei 225 added 401.83 points or 1.81% to 22,259.26, Taiwan Weighted gained 69.70 points or 0.64% to 10,818.62, and KOSPI Index up by 10.51 points or 0.47% to 2,258.96.
