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By Malvika Gurung
Investing.com — The listed on the Singapore-based Exchange SGX, an early indicator for , was trading 0.43% lower at 8:45 am on Tuesday, indicating Dalal Street to have a negative-to-muted opening. At the same time, the was trading 0.16% higher.
Major indices on Wall Street ended lower on Monday, as investors offloaded industry heavyweights and tech stocks, ahead of the Fed’s meeting scheduled this week, where a quarter-point interest rate hike is expected, while investors weighed in the effect of the Ukraine crisis on the economy and new cases of Covid-19 emerged in China.
plunged 2.04%, lowered 0.74%, and ended on a flat note on Monday.
Oil prices retracted to a two-week low on Tuesday, as peace talks between Russia and Ukraine resumed, bolstering hopes of easing global crude supply restrictions. Besides, rising Covid-19 lockdowns in China is adding to the concerns over slower demand.
Stocks across the Asian markets traded in red as surging Covid-19 cases in China hit investor confidence amid the ongoing geopolitical tensions and the US Fed set to raise interest rates to curb soaring inflation ahead in the week.
A steep jump was posted in the number of Covid-19 cases in China on Tuesday.
At 8:45 am, Japan’s rose 0.3%, South Korea’s declined 0.5%, while MSCI’s broadest index of Asia-Pacific shares outside Japan tanked 2.42%.
Hong Kong’s plunged 2.16%, and China’s declined 1.9%.
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