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Asian markets trade lower in early deals on Tuesday

05 Dec 2023 Evaluate
Asian markets traded in red in early deals on Tuesday, mirroring negative Wall Street overnight with the jitters that the increased anticipation on Fed unwinding monetary tightening might be too optimistic. Negative trend in global commodity rates with the firmer dollar and bonds also saddled equity investments in energy and material sector. Participants also went risk averse ahead to this week’s November trade data as well as inflation readings from China and monthly job’s report from US. Hang Seng slumped the most among Asian indices as it extended losing streak for the third straight session and is in lowest level in a year. Japan’s Nikkei also tumbled with the sharp selloff in technological and heavyweight sector. Exports of the country also shrunk with the stronger local currency yen.

Nikkei 225 down by 397.65 points 1.20% to 32,833.62, Straits Times declined 10.28 points or 0.33% to 3,073.80, Hang Seng fell 292.18 points 1.79% to 16,353.87, Shanghai Composite diminished by 20.82 points or 0.69% to 3,002.09, Taiwan Weighted curtailed 126.02 points or 0.72% to 17,295.46, Jakarta Composite shrunk by 26.47 points or 0.37% to 7,067.13, and KOSPI Index decreased 9.96 points or 0.40% to 2,504.99 and FTSE Bursa Malaysia KLCI narrowed by 3.88 points or 0.27% to 1,447.14.

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