Asian markets traded mixed in early deals on Tuesday, due to risk aversion in the market ahead to vote on the US debt ceiling deal and on technical correction after recent sessional gains. Moreover, participants also side-lined ahead to the China's PMI data for May on Wednesday, amid reports of wobbling economic recovery in China. Hang Seng extended losses for fifth straight session followed by the reports that Hong Kong banks are in verge of sudden demand for liquidity as they borrowed the largest amount of short-term cash in over two years from the authorities. Japan’s Nikkei extended gains and is over three-decade highs this month, after stronger than expected employment data for April. Japan’s unemployment rate dropped to 2.6% in April from 2.8% in March, exceeding expectations for a slight fall to 2.7%.
Nikkei 225 up 97.25 points or 0.31% to 31,330.79, Straight times rose by 3.08 points or 0.10% to 3,198.33, Jakarta Composite enlarged 5.38 points or 0.08% to 6,686.48, and KOSPI widended by 22.76 points or 0.89% to 2,581.57.
On the flip side, Hang Seng down by 181.18 points or 0.99% to 18,369.93, Taiwan shrunk by 27.23 points or 0.16% to 16,595.00, Shanghai narrowed by 22.87 points or 0.72% to 3,198.58, and FTSE Bursa Malaysia KLCI narrowed by 5.29 points or 0.38% to 1,399.64.
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