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Asian equities trade lower on Tuesday

15 Jan 2013 Evaluate

Most of the Asian equity indices are trading in the red on Tuesday morning deal as investors booked profit after previous session’s rally. However, Japanese Nikkei share average climbed about a percent to 32-month high on Tuesday, driving the benchmark further into overbought territory, as persistent weakness in the yen boosted demand for exporters’ shares. Meanwhile, investors are also optimistic ahead of the release of fourth-quarter growth figures of China on January 18, 2013, which it is hoped will confirm that the world’s number two economy has picked up following a slowdown.

Hang Seng declined 66.31 points or 0.28% to 23,346.95, Jakarta Composite dipped 5.15 points or 0.12% to 4,377.35, Straits Times dropped 20.26 points or 0.63% to 3,186.33, KOSPI Composite decreased 14.48 points or 0.72% to 1,992.56 and Taiwan Weighted was down by 69.64 points or 0.89% to 7,754.33.

On the flip side, Shanghai Composite surged 9.81 points or 0.42% to 2,321.55, KLSE Composite rose 0.97 points or 0.06% to 1,685.60, Nikkei 225 was up by 88.05 points or 0.82% to 10,889.62.

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