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Asian markets trade mixed in early deals on Tuesday

25 Jun 2024 Evaluate
Most of the Asian markets traded mixed in early deals on Tuesday, as the investors sidelined ahead to this week’s key US economic data, including the core PCE index data, the Fed’s preferred inflation measure, alongside consumer spending and income, the third estimate for Q1 GDP growth, and the goods trade balance. Economic and policy uncertainties in China also curtailed investments. Speculators also eyed on this week's industrial profits, manufacturing and services PMI figures from China for gauging economic strength of world’s second largest power. Japan’s Nikkei advanced in the session as the softer local currency yen continued to support equities by boosting the profit outlook for Japan’s export-based industries.

Nikkei 225 up by 226.85 points 0.58% to 39,031.50, Straits Times rose by 9.20 points 0.28% to 3,323.34, Hang Seng lifted by 81.49 points 0.45% to 18,109.20, and KOSPI Index buoyed by 12.02 points or 0.43% to 2,776.75. 

On the flip side, Taiwan Weighted diminished by 100.55 points or 0.44% to 22,713.15, Jakarta Composite lifted by 21.19 points or 0.31% to 6,867.98, Shanghai Composite curtailed 11.15 points or 0.38% to 2,951.95 and FTSE Bursa Malaysia KLCI reduced 1.15 points or 0.07% to 1,588.51.

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