Asian equity benchmarks are trading lower on Tuesday, in a choppy trade as fears around the rampant spread of a new coronavirus strain roiled markets. Countries across the globe shut their borders to Britain on Monday due to fears about a new strain of coronavirus. However, optimism about Congress passing a new stimulus bill supported US stocks. Oil prices dropped on expectations of lower demand, with the recently down US crude oil. Japan’s Nikkei is in negative with the steady yen and in line with the negative cues as Brexit trade deal talks remained deadlocked and countries around the world slapped tough travel restrictions on the UK in response to fears around the rampant spread of a new variant coronavirus. Among the Asian markets, Japan, Singapore, Hong Kong, Taiwan, South Korea, Indonesia, China and Malaysia are in negative territory.
Nikkei 225 dipped by 252.86 points or 0.95% to 26,461.56, Straits Times down by 16.59 points or 0.58% to 2,829.93, Hang Seng decreased by 176.14 points or 0.67% to 26,130.54, Taiwan Weighted lower 143.78 points or 1.00% to 14,259.45, KOSPI Index narrowed 24.08 points or 0.87% to 2,754.57, Jakarta Composite slipped 51.73 points or 0.84% to 6,113.89, Shanghai Composite diminished by 14.98 points or 0.44% to 3,405.59 and FTSE Bursa Malaysia KLCI curtailed by 16.94 points or 1.03% to 1,630.95
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