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Asian markets trade mostly lower in early deals on Wednesday

31 Jul 2013 Evaluate

Most of the Asian equity indices are trading in the red in Wednesday’s morning deals as investors opted to remain away from taking positions in risky assets ahead of outcome of a Federal Reserve policy meeting for clarity on US economic stimulus. The Fed is expected to link the start of any tapering to data signals, and markets are also eyeing other major economic reports this week. Meanwhile, Japanese benchmark declined over half a percent as yen strengthened and most of the investors adopted a wait-and-see stance ahead of another batch of key domestic earnings.

Jakarta Composite declined 40.84 points or 0.89% to 4,567.65, KLSE Composite dropped 17.75 points or 0.99% to 1,777.33, Nikkei 225 shed 84.37 points or 0.61% to 13,785.45, Straits Times dipped 10.62 points or 0.33% to 3,234.83, Seoul Composite slipped 0.66 points or 0.03% to 1,916.39 and Taiwan Weighted was down by 34.25 points or 0.42% to 8,129.30.

On the flip side, Shanghai Composite surged 11.60 points or 0.58% to 2,001.66 and Hang Seng was up by 48.28 points or 0.22% to 22,002.24.

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