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Syria jitters drag Asian markets lower in early deals on Tuesday

27 Aug 2013 Evaluate

Most of the Asian equity indices were trading in the red in early morning deals on Tuesday as sentiments remained dampened after the United States signaled possible military action against the Syrian government over a suspected chemical weapons attack. Investors remained on the sidelines on uncertainty over whether the US Federal Reserve will begin to withdraw stimulus next month. The Japanese market opened notably lower with the overnight fall on Wall Street amid concerns over the conflict in Syria, and the dollar's decline against the yen also triggered some heavy selling in early trades. However, with investors picking up stocks at lower levels after the yen gave up some ground, the market recovered and edged up marginally into positive territory.

Shanghai Composite dipped 3.91 points or 0.19% to 2,092.57, Hang Seng declined 66.61 points or 0.30% to 21,938.71, Jakarta Composite tumbled 112.42 points or 2.73% to 4,008.25, KLSE Composite dropped 18.15 points or 1.05% to 1,704.34, Straits Times contracted 23.02 points or 0.75% to 3,061.39 and Taiwan Weighted was down by 24.69 points or 0.31% to 7,870.28.

On the flip side, Nikkei 225 increased 33.40 points or 0.24% to 13,669.68 and Seoul Composite was up by 7.17 points or 0.38% to 1,895.03. 

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