Most of the Asian markets traded in red in early deals on Tuesday, due to risk aversion amid ambiguities over Fed interest rate hike decision and US debt ceiling deal. Meeting of US President Joe Biden and House Speaker Kevin McCarthy ended without a deal on Monday. Moreover, profit taking after previous sessional gains also saddled equity investments. Japan’s Nikkei to log first dip after eight straight sessional gains. It had notched 33 year high during the session kindled by robust domestic data and on rise in foreign investments with the weaker local currency yen.
Nikkei 225 down 148.10 points or 0.48% to 30,938.72, Hang Seng dipped by 114.58 points or 0.59% to 19,563.59, Shanghai narrowed by 19.11 points or 0.58% to 3,277.36, Taiwan sluggish by 3.79 points or 0.02% to 16,177.10 and FTSE Bursa Malaysia KLCI curtailed by 3.03 points or 0.21% to 1,415.97.
On the flip side, Straight times up by 11.14 points or 0.35% to 3,222.23, KOSPI buoyed by 11.04 points or 0.43% to 2,568.12, and Jakarta Composite enlarged 25.17 points or 0.37% to 6,754.82.
