Most of the Asian equity benchmarks are trading in red in early deals on Wednesday, due to risk aversion among investors amid concerns about global economic growth with still lingering US-China trade war. Japanese market is trading in negative trend as the safe-haven yen strengthened and in conjunction with negative cues from Wall street equities, after the reports that China could be considering restricting the export of rare earth minerals, which are crucial for the technology industry, to the US. Among the other Asian markets, Shanghai, South Korea, Taiwan, Singapore, and Hong Kong are in weak trend. However, Indonesia and Malaysia are in positive territory.
Nikkei 225 down 259.59 points or 1.22% to 21,000.55, Hang Seng fell 110.07 points or 0.40% to 27,280.74, Straits Times contract by 8.47 points or 0.27% to 3,156.85, Taiwan Weighted lower by 22.76 points or 0.22% to 10,289.55, , KOSPI Shares down 25.17 points or 1.23% to 2,023.66, and Shanghai Composite dip by 3.09 points or 0.11% to 2,906.82.
On the flip side, Jakarta Composite up 58.71 points or 0.97% to 6,091.85 and FTSE Bursa Malaysia KLCI enlarge by 10.57 points or 0.65% to 1,625.14.
