Asian markets traded in red in early deals on Tuesday, as the investor sentiments dulled after Chinese Central Bank measures missed expectations of more dovish stance to counter signs of faltering post-pandemic recovery. Although, the PBoC had lowered both its one-year and five-year loan prime rates by 10 basis points to 3.55% and 4.2%, respectively. Japan’s Nikkei extended losing streak to second consecutive session amid lack of strong market-moving catalysts and on caution ahead of several appearances from US Federal Reserve officials this week.
Nikkei 225 down 74.31 points or 0.22% to 33,296.11, Straight times dipped by 14.82 points or 0.46% to 3,226.35, Hang Seng shrunk by 303.86 points or 1.55% to 19,609.03, KOSPI narrowed by 5.76 points or 0.22% to 2,603.74, Taiwan curtailed by 98.97 points or 0.57% to 17,175.59, Jakarta Composite slipped by 25.49 points or 0.38% to 6,660.57, Shanghai diminished by 5.92 points or 0.18% to 3,249.89 and FTSE Bursa Malaysia KLCI declined by 0.12 points or 0.01% to 1,387.21.
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