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Asian Markets trade mostly lower in early deals on Tuesday

21 Sep 2021 Evaluate
Most of the Asian equity benchmarks traded lower in early deals on Tuesday, as the speculators are in risk aversion amid contagion fears after reports on big financial troubles in Chinese property group Evergrande. Evergrande, one of China's biggest property developers is struggling to meet interest payments on more than $300bn of debts. Regulators in China warned it could spark broader risks to the country's financial system. World shares were mostly in negative mode as investors fretted about the spill over risk to the global economy from Evergrande’s troubles. Participants also keenly awaited for US Central Banks move as the Fed’s Open Market Committee meets on September 21-22. Technological stocks are mixed, while banking stocks are in red. Oil shares are in positive territory despite sharp correction in crude oil overnight. Meanwhile, Wall Street tumbled overnight, with Nasdaq,  S&P 500 and Dow in red. The major European markets also plunged in the session. Stock markets of Taiwan, South Korea, and China are closed for a holiday. Among the Asian stocks, Japan, Hong Kong, Indonesia, and Malaysia are in negative territory. Bucking the trend, Singapore traded higher.

Nikkei 225 down by 528.78 points or 1.73% to 29,971.27,  Hang Seng shrunk by 77.02 points or 0.32% to 24,022.12, Jakarta Composite trimmed by 44.94 points or 0.74% to 6,031.38, and FTSE Bursa Malaysia KLCI diminished by $0.01 points or 0.001% to 1,527.88.

On the flip side, Straight times up by 13.31 points or 0.44% to 3,055.04.

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