Asian markets traded mostly lower in early deals on Tuesday, saddled by the risk aversion amidst uncertainties surrounding US tariff negotiations and mixed market sentiments following recent US stock performance. South Korea’s producer price index jumped by 0.5% YoY in June, ending a four-month slowdown and raising concerns that elevated input costs could pressure corporate margins- mainly for exporters and manufacturers that dominate the index. While, Hong Kong’s annual inflation rate hit to a three-month low of 1.4% in June, despite reduced electricity subsidies. Japan’s Nikkei fell after election results raised concerns about future economic policies.
Nikkei 225 down by 143.41 points or 0.36% to 39,675.70, Straits Times slipped by 10.88 points 0.26% to 4,196.25, Taiwan Weighted declined by 314.75 points or 1.35% to 23,025.81, KOSPI Index dipped by 48.37 points or 1.51% to 3,162.44 and FTSE Bursa Malaysia KLCI curtailed 5.56 points or 0.36% to 1,519.03.
On the flip side, Hang Seng rose by 62.97 points or 0.25% to 25,057.11, Jakarta Composite added by 15.12 points or 0.20% to 7,413.31 and Shanghai Composite buoyed by 8.99 points or 0.25% to 3,568.78.
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