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Asian markets trade mostly lower in early deals on Tuesday

30 Jul 2024 Evaluate
Most of the Asian markets traded lower in early deals on Tuesday, pressured by the risk aversion ahead to upcoming monetary policy events from major central banks this week, including interest rate decisions from the US Federal Reserve and the Bank of Japan. Meanwhile investor sentiments also dulled ahead to earnings news from several major technology companies and minutes from latest policy updates from the Bank of Korea due later today. Additionally, participants also closely eyed this week’s Politburo meeting which might launch fresh strong economic stimulus measures for the ailing economy of China. Growing woes over continued shrink in factory activity of China ahead to Wednesday’s PMI figures also weighed down the investments.

Nikkei 225 down by 86.66 points 0.23% to 38,381.97, Hang Seng dipped by 199.99 points 1.17% to 17,038.35, KOSPI Index decreased by 26.12 points or 0.94% to 2,739.41, Jakarta Composite curtailed by 48.69 points or 0.67% to 7,240.21, Taiwan Weighted lower by 27.62 points or 0.12% to 22,136.87, Shanghai Composite narrowed by 14.98 points or 0.52% to 2,876.87 and FTSE Bursa Malaysia KLCI slipped by 1.46 points or 0.09% to 1,623.10.

On the flip side, Straits Times rose by 4.28 points 0.12% to 3,448.46.

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