Asian market indices are trading lower in early deals on Tuesday, due to cautious outlook by investors after IMF lowered world's economic growth forecasts for 2019 and 2020 in midst of risks to the Chinese economy and fears over Brexit. Japan's Nikkei, retreated from previous session's one-month high in line with profit taking from recent gainers amid concerns on slowing global economic growth. The major exporters are weak on a stronger safe-haven yen. Meanwhile, US markets were closed for the Martin Luther King Day holiday.
Nikkei 225 down 129.63 points or 0.63% to 20,589.70,Hang Seng contracted 275.05 points or 1.01% to 26,921.49, Straits Times declined 11.50 points or 0.36% to 3,209.06, Taiwan Weighted dipped 22.75 points or 0.23% to 9,866.65, Shanghai Composite lower by 19.14 points or 0.73% to 2,591.37, KOSPI Shares decreased 12.33 points or 0.58% to 2,112.28, Jakarta Composite down 26.29 points or 0.41% to 6,424.54, and FTSE Bursa Malaysia KLCI dipped by 1.91 points or 0.11% to 1,690.31.
