Asian markets traded in red in early deals of Tuesday, as the participants got cautions ahead to the US inflation data which may direct the potential aggressive interest rate hike by the Federal Reserve. The US inflation is expected to mark the highest consumer price rise in almost over 16 years. Additionally, woes over supply chain issues and economic ramifications in midst of the continued war between Russia and Ukraine also weighed on the investments. Japanese stocks tumbled in the session in tandem with the negative overseas cues and as the exporters diminished with the weaker yen. Meanwhile, Japan confirmed its first case of the Omicron XE derivative in a woman upon arrival at Narita airport near Tokyo. Shanghai also narrowed with the woes over economic health of the country amid extended lockdown due to the surge in corona virus cases. The producer price index of China for March surged by 8.3% as compared with a year ago, also pressured the investor sentiments.
Nikkei 225 down by 471.28 points or 1.76% to 26,350.24, Straight times dipped by 29.80 points or 0.89% to 3,333.76, Hang Seng slipped by 106.09 points or 0.50% to 21,102.21, Taiwan shrunk by 58.67 points or 0.34% to 16,989.70, KOSPI decreased by 31.67 points or 1.18% to 2,661.43, Jakarta Composite declined by 29.36points or 0.41% to 7,174.43, Shanghai lower by 21.02 points or 0.66% to 3,146.11, and FTSE Bursa Malaysia KLCI diminished by 31.3 points or 0.20% to 1,601.48.
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