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Asian equities trade mixed on Cyprus bailout concern

26 Mar 2013 Evaluate

Asian equity indices are trading mixed on Tuesday’s morning session as investors remain concerned about potential risks from the Cyprus bailout scheme. The Chinese Shanghai remained the top loser among the regional peers losing about one and a half percent, dragged by slump in brokerages and material producers. Japanese Nikkei also declined during the trade though, the fall remain capped by hopes for Japan’s bold monetary easing. The index stocks came off from lows after Bank of Japan Governor Haruhiko Kuroda signaled bold monetary easing.

Jakarta Composite rose 35.70 points or 0.75% to 4,813.60, KLSE Composite strengthened 8.34 points or 0.51% to 1,652.23, Straits Times increased 4.12 points or 0.13% to 3,271.60, KOSPI Composite added 8.84 points or 0.45% to 1,986.51 and Taiwan Weighted was up by 10.74 points or 0.14% to 7,866.86.

On the flip side, Shanghai Composite tumbled 34.40 points or 1.48% to 2,292.31, Hang Seng declined 74.46 points or 0.33% to 22,176.69 and Nikkei 225 was down by 24.96 points or 0.20% to 12,521.50.

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