Most of the Asian equity indices are trading in the negative terrain in the absence of any positive trigger as US markets remained closed on Monday for the President’s Day holiday. Some investors remained on the sidelines, waiting for Japan to announce the next head of its central bank to replace Bank of Japan Government. The Japanese Nikkei is trading lower as the yen strengthened, weighing down the exporters. The yen rose after Finance Minister Taro Aso’s comments on the central bank took the edge off premier Shinzo Abe’s warning on Monday that he would consider changing the law to take control of the Bank of Japan if it could not achieve a new two per cent inflation target.
Shanghai Composite declined 24.66 points or 1.02% to 2,396.90, Hang Seng dipped 62.00 points or 0.27% to 23,319.94, Jakarta Composite decreased 7.59 points or 0.16% to 4,604.45, KLSE Composite slipped 4.62 points or 0.29% to 1,616.31 and Nikkei 225 was down by 27.51 points or 0.24% to 11,380.36.
On the flip side, Straits Times rose 11.54 points or 0.35% to 3,299.68, KOSPI Composite added 0.99 points or 0.05% to 1,982.90 and Taiwan Weighted was down by 16.35 points or 0.21% to 7,959.88.
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