Asian markets traded mostly lower in early deals on Tuesday, in tandem with negative Wall street overnight. Investor sentiments dampened as hopes for easing Middle East tensions faded after US President Donald Trump rejected Iran's conditional proposal to reopen the critical Strait of Hormuz shipping lane. Rising Treasury Bond Yield notes, and hawkish central bank interest rate outlooks with the reignited inflation fears also saddled equity investments. Japan’s Nikkei tumbled pressured by heavy bond market selling and on local anticipation of tighter domestic monetary policy from the Bank of Japan.
Nikkei tumbled by 895.62 points or 1.36% to 64,982.00, Straits Times down by 15.20 points or 0.27% to 5,707.81, Hang Seng dipped by 233.51 points or 0.95% to 24,409.00, Taiwan Weighted declined by 279.25 points or 0.58% to 47,745.35, KOSPI Index plunged by 74.05 points or 1.07% to 6,815.69, Jakarta Composite narrowed by 36.52 points or 0.59% to 6,111.34, and FTSE Bursa Malaysia KLCI index curtailed by 16.03 points or 0.96% to 1,653.99.
On the flipside, Shanghai Composite up by 2.89 points or 0.08% to 3,826.51.
