Most of the Asian equity benchmarks are trading in red in the early deals on Tuesday amid negative lead overnight from Wall Street after an unexpected fall in US construction spending in December. Hong Kong stocks retreated as China set its lowest GDP growth rate in 30 years. Though, Chinese stocks rose after the government announced a major tax cuts. Among the other Asian markets, Nikkei, Singapore, Taiwan, South Korea, Indonesia and Malaysia are lower.
Nikkei 225 dropped 94.76 points or 0.43% to 21,727.28, Hang Seng declined 8.82 points or 0.03% to 28,950.77, KOSPI Shares contracted 12.28 points or 0.56% to 2,178.38, Straits Times decreased 10.43 points or 0.32% to 3,240.65, Jakarta Composite tumbled 64.15 points or 0.99% to 6,424.27, FTSE Bursa Malaysia KLCI slipped 4.19 points or 0.25% to 1,689.80, and Taiwan Weighted down by 29.77 points or 0.29% to 10,320.11.
On the flip side, Shanghai Composite up by 3.42 points or 0.11% to 3,031.00.
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