All of the Asian market indices are trading in red in early deals on Tuesday following the overnight sell-off on Wall Street as traders braced for an interest rate hike by Federal Reserve. Besides, the fall in crude oil prices amid rising worries about slowing global economic growth also fuelled the downtrend. The Japanese market is declined on the back of overnight sell-off on the US markets and on a stronger safe-haven yen. Investors remained cautious ahead of the US Federal Reserve and the Bank of Japan's monetary policy decisions due on Wednesday and Thursday respectively.
Nikkei 225 declined 352.34 points or 1.64% to 21,154.54, Hang Seng dropped 235.00 points or 0.90% to 25,852.98, Straits Times dipped 56.42 points or 1.81% to 3,057.83, Taiwan Weighted slipped 59.36 points or 0.61% to 9,728.17, Jakarta Composite contracted 39.19 points or 0.64% to 6,050.12, FTSE Bursa Malaysia KLCI decreased 8.22 points or 0.50% to 1,633.40, Shanghai Composite tumbled 28.32 points or 1.09% to 2,569.65, and KOSPI Shares down by 11.27 points or 0.54% to 2,059.82.
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