Asian markets trade mostly in red

The Asian markets have made a mixed start and most of the indices were trading marginally in red ahead of the Chinese export data which may show export growth slumped last month. China will be more cautious about adjusting monetary policy as inflation may pick up again. Japanese market too was down by over half a percent on some weak earnings number and ahead of a report next week that is expected to show the country’s economy slowed. The yen too has turned higher and the investors are not likely to become bullish until the currency market settle down.

Shanghai Composite was down by 2.75 points or 0.13% to 2,171.35, Hang Seng lost 71.81 points or 0.35% to 20,197.66, Jakarta Composite declined marginally by 0.77 points or 0.03% to 4,130.81, KLSE Composite was down by 1.38 points or 0.08% to 1,641.14, Nikkei was down by 54.49 points or 0.61% to 8,924.11, Straits Times lost 0.90 points or 0.01% to 1,940.77 and Taiwan Weighted was lower by 7.20 points or 0.10% to 7,428.65.

On the other hand, Kospi Composite was up by 0.69 points or 0.04% to 1,940.73.