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Asian equities trade lower in early deals on Monday

13 May 2013 Evaluate

Most of the Asian equity indices are trading in negative terrain in Monday’s morning trade with sentiment hit by selling in commodities triggered by a strong dollar. Investors remained cautious ahead of a set of data due later in the session to gauge the current state of the world’s top two economies, the United States and China. Both countries will report retail sales for April. Bucking the trend, Japanese stocks surged by over a percent on the back of weakening yen as it improves earnings prospects for exporters and underpins the export-reliant economy.

Shanghai Composite declined 4.76 points or 0.21% to 2,242.07, Hang Seng tumbled 240.83 points or 1.03% to 23,080.39, Jakarta Composite dropped 39.81 points or 0.78% to 5,066.13, Straits Times slipped 5.68 points or 0.16% to 3,438.09, KOSPI Composite dipped 0.43 points or 0.02% to 1,944.32 and Taiwan Weighted was down by 38.68 points or 0.47% to 8,241.58.

On the flip side, KLSE Composite rose 14.40 points or 0.81% to 1,786.78 and Nikkei 225 was up by 182.25 points or 1.25% to 14,789.79.

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