Most of the Asian markets traded lower in early deals of Tuesday, due to risk aversion in the market as ‘Third Plenum’ a four-day policy meeting started on Monday. Meanwhile, chances of Donald Trump winning a second term rose after Saturday’s shooting, spurred more tariff threats for emerging markets including Asia. Losses in battery makers saddled auto-mobile sector. Additionally, sluggish Chinese GDP data in Q2 continued to pressure sentiment. Hang Seng plunged for second session in a row with the profit taking in major sectors. Bucking the trend Japan’s Nikkei rebounded in its post-holiday trade in tandem with the positive Wall Street overnight.
Straits Times down by 9.17 points 0.26% to 3,490.72, Hang Seng tumbled by 245.98 points 1.38% to 17,769.96, Jakarta Composite slower by 33.21 points or 0.46% to 7,245.65, Shanghai Composite up by 6.16 points or 0.21% to 2,967.85, FTSE Bursa Malaysia KLCI dipped by 3.90 points or 0.24% to 1,625.92.
On the flip side, Nikkei 225 rose by 81.42 points 0.20% to 41,272.10, Taiwan Weighted up by 21.85 points or 0.09% to 23,901.21, and KOSPI Index increased by 6.68 points or 0.23% to 2,867.60.
