Asian markets trade mostly lower in early deals on Tuesday

Asian markets traded mostly lower in early deals on Tuesday, due to risk aversion ahead of crucial monetary policy decisions from major central banks, including the US Federal Reserve, the European Central Bank, and the Bank of Japan. Lingering concerns over high-frequency volatility in the global technology sector and the sustainability of AI-driven valuations also dampened investor sentiments. Additionally, jitters over elevated crude oil prices and macroeconomic data releases also saddled local indices. Japan’s Nikkei snapped third day losing streak with the rise in profits in export-oriented business and on foreign inflows with the weakness in local currency yen.

Hang Seng down by 155.81 points or 0.67% to 23,056.00, Straits Times dipped by 6.45 points or 0.12% to 5,409.46, Taiwan Weighted narrowed by 29.06 points or 0.06% to 46,012.37, Jakarta Composite declined by 17.44 points or 0.32% to 5,355.65, and Shanghai Composite curtailed by 11.99 points or 0.33% to 3,685.53.

On the flipside, Nikkei 225 up by 1,155.35 points or 1.86% to 63,345.00, KOSPI Index rose by 199.23 points or 3.64% to 5,668.70, and FTSE Bursa Malaysia KLCI index lifted by 4.18 points or 0.26% to 1,608.54.