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Asian markets trade in red in early deals on Tuesday

05 Sep 2023 Evaluate

Asian markets traded in red in early deals on Tuesday, mirroring negative cues from global indices overnight ahead of key data, including factory orders later today and trade figures Wednesday. Risk aversion in the market with the woes over Chinese economic recovery after sluggish growth data from the county’s service sector for the month of August also pressured the equity investments. Hang Seng tumbled the most among Asian indices with the woes retreating from its three-week high rate amidst Chinese economic rebound worries. While, Japan’s Nikkei slipped for the first time in seven sessions with the sell-off in most indices. Even though, some losses remained capped after August business activity of the country registered its sharpest hike in three months.

Nikkei 225 down 16.34 points or 0.05% to 32,922.84, Straight times dipped by 8.39 points or 0.26% to 3,230.58, Hang Seng declined by 284.24 points or 1.53% to 18,559.92, Taiwan narrowed by 22.02 points or 0.13% to 16,767.67, Jakarta Composite shrunk by 2.88 points or 0.04% to 6,993.87, KOSPI curtailed by 1.33 points or 0.05% to 2,583.22, Shanghai slipped by 19.90 points or 0.63% to 3,157.16, and FTSE Bursa Malaysia KLCI lower 5.38 points or 0.37% to 1,457.34.

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