All the Asian equity benchmarks are trading in the negative terrain in early deals on Tuesday as investors remained on sidelines awaiting the outcome of the US Federal Reserve’s policy meeting this week, at which it is widely expected to stay the course on stimulus. The Japanese stock market opened sharply lower with several front line stocks tumbling in early trades amid the release of a slew of economic reports. However, the index recovered from day’s lows bolstered by data showing consumer spending in Japan jumped in September as shoppers frontloaded purchases before a sales tax increase next year.
Shanghai Composite declined 22.74 points or 1.07% to 2,111.13, Hang Seng dipped 30.61 points or 0.13% to 22,775.97, Jakarta Composite shed 31.08 points or 0.68% to 4,559.46, KLSE Composite slipped 1.70 points or 0.09% to 1,816.69, Nikkei 225 dropped 141.65 points or 0.98% to 14,254.39, Straits Times decreased 2.63 points or 0.08% to 3,205.22, Seoul Composite contracted 4.05 points or 0.20% to 2,044.09 and Taiwan Weighted was down by 21.90 points or 0.26% to 8,385.93.
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