Asian markets traded mostly lower in early deals on Tuesday, due to risk aversion saddled by the rising crude oil rates and on escalating Middle East tensions. Renewed inflation worries and the prospect of tighter monetary policy also dulled investor sentiments. Market participants also turned cautious ahead of key US economic data, including upcoming inflation reports, which could signal the Federal Reserve's next move on interest rates. Japan’s Nikkei slipped following a sharp rally in the yen to a seven-month high, sparking concerns over exporter earnings. Sentiment remained cautious as investors increasingly anticipate an imminent interest rate hike by the Bank of Japan.
Nikkei down by 149.84 points or 0.23% to 66,250.00, Straits Times narrowed by 25.34 points or 0.44% to 5,766.94, Hang Seng trimmed by 146.12 points 0.57% to 25,267.00, Taiwan weighted declined by 105.77 points or 0.22% to 47,220.50, and FTSE Bursa Malaysia KLCI index narrowed by 2.71 points or 0.16% to 1,712.08
On the flip side, KOSPI Index surged by 71.83 points or 1.03% to 7,067.22, Jakarta Composite rose by 55.28 points or 0.84% to 6,674.95, and Shanghai Composite increased by 9.55 points or 0.24% to 3,942.25.
