Asian Markets trade mostly in red in early deals of Tuesday

15 Mar 2022 Evaluate
Most of the Asian Markets traded in red in early deals of Tuesday, with the risk aversion amid surging inflation and on prospects of raising interest rate by US Federal Reserve this week. Meanwhile, continued ambiguity over the economic ramifications of war also dulled the investor sentiments. The US central bank is widely expected to raise interest rates by 25 basis points, though market closely looked for cues on further interest rate hikes to tackle the mounting inflation. Shanghai stocks eased in the session pressured by the concerns over supply and demand outlook as the country has reported its worst Covid-19 outbreak in more than two years. Although, Japanese market advanced for the second straight session as the exporters of the country mostly picked up on weaker local currency yen and on positive outlook after the government is to lift the Covid-19 quasi-state of emergency for 18 prefectures upon expiration next week as the infection rate curtailed significantly. Moreover, optimism over peace talks of Russia and Ukraine also added the upside.

Hang Seng down by 584.41points or 2.99% to 18,947.25, KOSPI dipped by 14.33 points or 0.54% to 2,631.32, Taiwan narrowed by 294.18 points or 1.70 to 16,968.86, Jakarta Composite diminished by 14.56  points or 0.21% to 6,937.64, Shanghai tumble by 70.42 points or 2.18% to 3,153.11 and FTSE Bursa Malaysia KLCI lower by 7.17 points or 0.46% to 1,560.27.

Bucking the trend, Nikkei 225 up by 60.40 points or 0.24% to 25,368.25, and Straight times rose by 20.75 points or 0.64% to 3,252.78.

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