Asian equities trade mostly lower in morning deals

Asian equity indices after a day of break, have resumed their southward journey with most of the regional indices trading in the red on Wednesday’s morning after Cypriot lawmakers comprehensively rejected a plan to tax savings as part of a crucial bailout deal, amid fears over the eurozone financial system. Bucking the trend, Shanghai Composite garnered gains of over two percent as sentiments got some boost after the China Securities Journal said regulators may permit more investors to participate in short selling and margin trading.

Jakarta Composite dipped 5.63 points or 0.12% to 4,817.00, Straits Times slipped 5.58 points or 0.17% to 3,263.55, KOSPI Composite declined 6.90 points or 0.35% to 1,971.66 and Taiwan Weighted was down by 2.35 points or 0.03% to 7,836.12.

On the flip side, Shanghai Composite soared 47.37 points or 2.10% to 2,304.80, Hang Seng rose 192.51 points or 0.87% to 22,234.37 and KLSE Composite was up by 4.09 points or 0.25% to 1,629.55.

Japanese Nikkei remained shut for the trade today.