Most of the Asian equity indices are trading in red in Tuesday’s morning deals led by Chinese Shanghai Composite which crumbled over a percent as investors continued selling on concerns about weak Chinese manufacturing data. However, Japanese Nikkei surged by about a percent as monthly wages rose by the most in a year in April. Monthly wages include overtime and bonuses, which rose 0.3 percent from a year earlier to 273,427 yen ($2,746).
Shanghai Composite tumbled 26.60 points or 1.16% to 2,272.65, Hang Seng slipped 62.71 points or 0.28% to 22,219.48, Jakarta Composite dropped 23.99 points or 0.48% to 4,947.37, Straits Times declined 12.80 points or 0.39% to 3,278.28, KOSPI Composite contracted 9.21 points or 0.46% to 1,980.36 and Taiwan Weighted was down by 6.58 points or 0.08% to 8,194.44.
On the flip side, KLSE Composite rose 2.62 points or 0.15% to 1,768.95 and Nikkei 225 was up by 121.23 points or 0.91% to 13,383.05.