All of the Asian market indices are trading in red on Tuesday following the negative lead from Wall Street and reflecting weakness in technology stocks fueled by concerns about weak demand for Apple's iPhones. China’s Shanghai Composite is lower as traders awaited the upcoming meeting between US President Donald Trump and Chinese President Xi Jinping later this month. Meanwhile, the Japanese market is declining on account of weak cues overnight from Wall Street and on a stronger yen. Nissan’s shares slumped on reports that its chairman Carlos Ghosn has been placed under arrest over financial misconduct. The markets in Malaysia and Indonesia are closed in observance of the birth of the prophet Muhammad.
Nikkei 225 dropped 274.21 points or 1.27% to 21,546.95, Hang Seng dipped 481.65 points or 1.86% to 25,890.35, Shanghai Composite slipped 44.14 points or 1.66% to 2,659.37, Straits Times contracted 37.55 points or 1.24% to 3,027.52, KOSPI Shares declined 1.10% or 22.90 points to 2,077.66, and Taiwan Weighted down by 83.80 points or 0.86% to 9,744.89.
