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Asian markets trade mostly lower in early deals on Tuesday

25 Apr 2023 Evaluate
Most of the Asian markets traded lower in early deals on Tuesday, as the participants side lined ahead to key US earnings and key economic data releases. The lingering global economic concerns, uncertainty over the Fed's upcoming rate decision and woes over rising COVID cases in China ahead of the five-day Lunar holidays also saddled equity investments. Hang Seng extended losing streak to third straight session in tandem with weak cues from global indices. Bucking the trend, Japan’s Nikkei advanced in the session due to optimism ahead to Bank of Japan’s monetary policy meeting this week, the first to be led by new BOJ governor Kazuo Ued. Stock market of Indonesia remained closed for Eid al-Fitr.

Straight times down by 24.98 points or 0.75% to 3,299.57, Hang Seng shrunk by 324.09 points or 1.65% to 19,635.85, KOSPI diminished by 48.42 points or 1.92% to 2,475.08, Taiwan narrowed by 230.20 points or 1.47% to 15,396.67 and Shanghai declined by 11.39 points or 0.35% to 3,264.02

On the flip side, Nikkei 225 up 51.81 points or 0.18% to 28,645.33 and FTSE Bursa Malaysia KLCI rose by 1.70 points or 0.12% to 1,423.81.

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