Asian markets exhibit mixed trade in early deals on Tuesday

Asian equity indices are exhibiting mixed trade in early deals on Tuesday. Some of the regional benchmark were extending gains after capping the biggest daily rally in almost two months, amid optimism that geopolitical risks are receding. The Japanese stock market surged higher, tracking positive US and European markets, amid slightly easing worries about the situation in Ukraine. A slightly weaker yen is also contributing to the market's rise. In the economy news, an index measuring domestic corporate service prices in Japan was up 0.3 percent on month at 106.6 in July, the Bank of Japan said on Tuesday. That was shy of forecasts for an increase of 0.4 percent, and up from the 0.2 percent gain in June. Meanwhile, China’s benchmark stock index fell from an eight-month high before the release of economic data including new Yuan loans and industrial production. Among other markets in the Asia-Pacific region, Singapore, Indonesia and South Korea are trading modestly higher, while Hong Kong, Malaysia, Shanghai and Taiwan are trading weak.

Nikkei 225 spurted by 31.95 points or 0.21% to 15,162.47, KOSPI Index gained 1.23 points or 0.06% to 2,040.60, Straits Times added 10.84 points or 0.33% to 3,317.29 and Jakarta Composite was up by 26.71 points or 0.52% to 5,139.94.

Hang Seng slipped by 30.96 points or 0.13% to 24,615.06, Shanghai Composite tumbled by 4.67 points or 0.21% to 2,219.99, FTSE Bursa Malaysia KLCI dropped 0.98 points or 0.05% to 1,848.34 and  Taiwan Weighted was down by 4.12 points or 0.04% to 9,168.79.