Asian equity indexes extend losses amid empty calendar

Asian equity indexes were mainly lower on Tuesday, with traders focusing on unstable oil prices and Italy’s political turmoil.

In Japan, the Nikkei 225 was down 0.59 percent, with exporters falling under pressure on the back of a stronger yen. The broader Topix eased 0.48 percent.

South Korea’s Kospi benchmark dropped 0.76 percent, with technology, banking and manufacturing names weighing on the index.

Hong Kong’s Hang Seng traded 0.83 percent to the downside by the time of this writing, with financial components pushing the index lower. Mainland Shanghai and Shenzhen were down 0.47 and 1.12 percent respectively.

In Australia, the S&P/ASX 200 was able to end in green territory, with a 0.16 percent gain as the country’s main banks were on a bullish side.

Markets in Singapore, Malaysia and Thailand were closed on Tuesday for a holiday.

Monday was an empty day for traders, with trading volumes remaining below average as US and UK markets remained shut for a holiday. Today is also a weak day on the data front.

In Europe, attention is directed exclusively to Italy, where President Sergio Mattarella opted to appoint a former International Monetary Fund Director as prime minister to avoid the nomination of an eurosceptic politician. However, snap elections are expected in autumn.

In other news, the Indonesian rupiah is getting weaker and the country's regulator will meet on Wednesday to define an action plan on how to prevent a crisis.

The currency’s dynamic seems to be reaction to investors pulling out of the Indonesian stock and bond markets to move their cash to US Treasury yields and the dollar.

FortFS