Asian markets traded lower in early deals of Monday, with the risk aversion in the market amidst dimming prospects for US interest rate cuts. Investor confidence also dulled with further Western economic sanctions on Chinese firms. Japan’s Nikkei tumbled to two-week low level with the stronger local currency yen. Meanwhile, the Bank of Japan on Friday kept interest rates unchanged as widely expected, and indicated that it might release plan on winding down its bond buying program at the next policy meeting in July. Stock markets of Singapore, Indonesia and Malaysia are closed for Eid al-Adha holiday.
Nikkei 225 down by 822.84 points 2.12% to 37,991.72, KOSPI Index lower by 9.02 points or 0.33% to 2,749.40, Shanghai Composite curtailed 15.51 points or 0.51% to 3,017.12.
On the flip side, Hang Seng up by 36.52 points 0.20% to 17,978.30,and Taiwan Weighted jumped by 3.24 points or 0.01% to 22,507.96.
