Asian markets traded mostly lower in early deals on Tuesday, saddled by the risk aversion amidst looming concerns regarding Middle East shipping and on spike in crude oil prices. Cautiousness ahead of crucial U.S. inflation data (CPI) also pressured the markets. Sharp correction in technology and chipmaker stocks fuelled the negative trend. The Hang Seng Index retreated as Hong Kong enterprises experienced immediate margin compression and escalating inflationary concerns. Stock market of Japan is closed for Mountain Day.
Hang Seng down by 158.49 points or 0.61% to 25,779.00, Shanghai Composite slipped by 4.31 points or 0.11% to 3,962.28, Jakarta Composite lower by 50.78 points or 0.80% to 6,314.59, and FTSE Bursa Malaysia KLCI index narrowed by 8.21 points or 0.47% to 1,727.16.
On the flip side, Straits Times up by 46.72 points or 0.82% to 5,745.15, KOSPI Index soared by 75.79 points or 1.20% to 6,375.45, and Taiwan weighted rose by 129.70 points or 0.29% to 45,058.46.
