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Asian markets trades mixed on Tuesday

19 Dec 2023 Evaluate
Asian markets were trading mixed on Tuesday as several Fed officials have subsequently pushed back on investor hopes that interest rate cuts by the Fed are imminent. Meanwhile, investors are cautiously awaiting the release of US inflation report later this week for more cues on the Fed's rate path. Hong Kong shares dropped due to concerns over China’s property market. Japanese shares gained on broadly positive cues from Wall Street overnight and after the Bank of Japan kept its ultra-lax monetary policy unchanged, as expected.

Nikkei 225 gained by 460.41 points 1.41% to 33,219.39, Straits Times rose by 8.89 points or 0.29% to 3,122.12, KOSPI Index up by 0.46 points or 0.02% to 2,567.32, and Jakarta Composite traded higher by 14.15 points or 0.2% to 7,133.68.

Hang Seng declined 143.49 points 0.86% to 16,485.74, Taiwan Weighted shrunk 75.48 points or 0.43% to 17,576.55, Shanghai Composite decreased by 2.90 points or 0.1% to 2,927.90 and FTSE Bursa Malaysia KLCI diminished by 0.18 points or 0.01% to 1,465.10.

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