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Asian markets trade mostly in red in early deals on Monday

27 Feb 2023 Evaluate
Most of the Asian markets traded in red in early deals on Monday, due to risk aversion after hotter than expected US inflation data bolstered need for continued hawkish stance by Federal Reserve. Moreover, lingering Sino- US geopolitical tensions and ambiguity over Chinese economic rebound also dulled investor sentiments. Meanwhile, participants awaited for China’s manufacturing and services data which is to be released this week for further gauge on economic health. Japan’s Nikkei retreated in tandem with the negative trend overseas. Moreover, participant’s side lined from major moves ahead to Bank of Japan governor nominee Kazuo Ueda’s appearance before the upper house on Monday. Additionally, country’s economic index and coincident index data is due today. Stock market of Taiwan is closed for Peace Memorial Day holiday.

Nikkei down by 50.26 points or 0.18% to 27,403.22, Straight times dipped by 14.40 points or 0.44% to 3,267.90, Hang Seng fell by 149.13 points or 0.75% to 19,860.91, KOSPI narrowed by 28.69 points or 1.18% to 2,395.03, Jakarta Composite curtailed by 21.59 points or 0.31% to 6,834.99, Shanghai diminished 3.78 points or 0.12 % to 3,263.38, and FTSE Bursa Malaysia KLCI pressured by 4.26 points or 0.29% to 1,452.54.

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