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Asian markets mostly trade weak in early deals on Tuesday

25 Mar 2014 Evaluate

Most of the Asian markets are trading in the red terrain in the morning deals on Tuesday, tracking cues from Wall Street where stocks closed weak overnight following a disappointing report on US manufacturing activity in March. Worries about the situation in Ukraine and recent weak economic data from China dampened sentiments. Meanwhile, Japanese markets surged on reopening after a holiday and Chinese Shanghai Composite rose on expectations the city will accelerate reforms of state-owned enterprises to support growth. Among other markets in the Asia-Pacific region, Hong Kong, Singapore, Indonesia, Malaysia and South Korea are trading weak, while Shanghai and Taiwan are trading modestly higher.

Hang Seng declined 25.81 points or 0.12% to 21,820.64, Jakarta Composite dipped by 19.66 points or 0.42% to 4,700.76, KLSE Composite decreased 3.67 points or 0.20% to 1,830.18, Straits Times contracted by 9.10 points or 0.29% to 3,102.73 and KOSPI Composite was down by 1.26 points or 0.06% to 1,944.29.

On the flip side, Shanghai Composite soared 8.97 points or 0.43% to 2,075.25, Nikkei 225 spurted by 11.71 points or 0.08% to 14,487.01 and Taiwan Weighted was up by 69.11 points or 0.80% to 8,674.49.

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