Asian markets closes broadly in the red as investors worried over new strain of Covid-19 that shutdown much of the UK which is expected to lead a slower economic recovery.
Japanese Nikkei closed 278.03 points lower or 1.04% at 26,436.39 on Tuesday. Hong Kong's Hang Seng traded 196.31 points or 0.75% lower at 26,110.37. Korean Kospi dropped 44.97 points or 1.62% to end at 2,733.68.
Shanghai Composite dropped 6.79 points or 1.86% at 3,356.78
Markets in Jakarta and Taiwan also suffered substantial losses.
However Set Composite and SGX Nifty rose amidst the gloom. SGX Nifty traded 0.51% higher.
Chinese stocks were mixed on Tuesday with Shanghai closing much lower while Set Composite traded at 1,424.23 up 22.45 points or 1.60%.
On Monday, US markets recovered from morning losses to close in the green as Dow Jones falls over 450 points before staging smart recovery. Nasdaq also saw dip of over 225 points before closing flat. First dip being bought globally even as Covid resurgence sees Europe in panic mode as flights to & from UK gets cancelled.
Oil prices also continued to slip amid rising Covid-19 cases, Brent Crude traded USD 0.78 or 1.53% lower at USD 50.13 per barrel.
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