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Asian markets trade mostly lower in early deals on Tuesday

07 Nov 2023 Evaluate
Asian markets traded mostly lower in early deals on Tuesday, with the risk aversion with the strength in US Treasury bond yield notes after a heavy slate of corporate debt sales and ahead to a series of auctions beginning today. Trade data from China also disappointed the markets. China reported a worse-than-expected drop in exports in October, while imports surprisingly rose for the month from a year ago. China’s customs agency said exports in U.S. dollar terms fell by 6.4% in October from a year ago. Imports rose by 3% in U.S. dollar terms in October from a year ago. Participants also side-lined ahead of October inflation data over the next few days. Meanwhile, investors also closely eyeing on remarks by Federal Reserve Chair Jerome Powell for further cues on monetary policy decisions. Japan’s Nikkei tumbled after its previous session’s six-week high rate in line with the negative global cues.

Nikkei 225 down by 367.73 points 1.14% to 32,340.75, Straits Times dipped 10.64 points or 0.33% to 3,169.89, Hang Seng curtailed 270.02 points or 1.53% to 17,696.57, KOSPI Index decreased 71.22 points or 2.85% to 2,431.15, Jakarta Composite slipped by 42.68 points or 0.62% to 6,836.16, Shanghai Composite lower by 10.81 points or 0.35% to 3,047.60 and FTSE Bursa Malaysia KLCI narrowed by 2.89 points or 0.20% to 1,461.78.

On the flip side, Taiwan Weighted up 12.58 points or 0.08% to 16,661.94.

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