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Asian markets trades lower in early deals on Tuesday

02 Jul 2013 Evaluate

After making a positive start, taking positive lead from Wall Street overnight, Asian equity indices have shed their initial gains in Tuesday’s morning deals with most of them entering into negative territory, as investors treaded cautiously at higher levels amid concerns about the Chinese economy. However, Japanese Nikkei extended its previous session’s gains as investors continued piling up position in the riskier assets after encouraging manufacturing data in Europe and the United States, helped cheer the market.

Shanghai Composite dropped 7.55 points or 0.38% to 1,987.70, Hang Seng dipped 81.78 points or 0.39% to 20,721.51, Jakarta Composite declined 38.44 points or 0.80% to 4,739.01, KLSE Composite slipped 2.83 points or 0.16% to 1,772.31 and KOSPI Composite was down by 1.79 points or 0.10% to 1,853.94.

On the flip side, Nikkei 225 rose 128.18 points or 0.93% to 13,980.68, Straits Times surged 27.07 points or 0.86% to 3,168.00 and Taiwan Weighted was up by 6.99 points or 0.09% to 8,042.99.

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