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Asian markets trade lower in early deals; US jobs data eyed

22 Oct 2013 Evaluate

Most of the Asian equity benchmarks are trading in the red terrain in early deals on Tuesday, as investors remained sidelined ahead of US jobs data that could shape expectations as to whether the Federal Reserve will start withdrawing stimulus this year. Back on regional turf, Chinese benchmark Shanghai Composite declined over half a percent, led by property developers, on concern that the government may introduce measures to contain housing prices after they climbed in all but one city the government tracks. However, after a weak start and a subsequent fall to lower levels, the Japanese stock market bounced back and was up marginally in positive territory in the morning session.

Shanghai Composite declined 14.73 points or 0.66% to 2,214.51, Hang Seng decreased 115.83 points or 0.49% to 23,322.32, Jakarta Composite tumbled 52.11 points or 1.14% to 4,526.07, KLSE Composite slipped 0.64 points or 0.04% to 1,801.97, Seoul Composite dipped 0.25 points or 0.01% to 2,052.76 and Taiwan Weighted was down by 11.14 points or 0.13% to 8,408.18.

On the flip side, Nikkei 225 rose 35.27 points or 0.24% to 14,728.84 and Straits Times was up by 12.94 points or 0.40% to 3,208.70. 

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