Asian markets close in the red

Japanese Nikkei 225 index ended 0.70% lower, Korean Kospi by 0.67% lower and Shanghai Composite 0.38% lower.

Oct 22, 2020 01:10 IST India Infoline News Service

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Asian markets closed in the red as investors preferred to play a waiting game on signs of whether US political leaders can agree on an economic aid before the November 3 presidential elections.

The markets in Asia started in the red as the International Monetary Fund (IMF) has downgraded its growth forecast for Asia-Pacific and in-line with the weak US cues.

US stocks closed with losses for another day as stimulus talks remain elusive with markets booking profit on all rallies.

Japanese Nikkei 225 index 0.70% lower, Korean Kospi 0.67 lower and Shanghai Composite 0.38% lower. Hong Kong's Hang Seng and Taiwan Weighted ended flat.

Meanwhile domestic indices are bearish with the BSE Sensex is trading at 40,470.34 down 236.97 points or 0.58%and Nifty50 at 11,872.55 down 65.10 points or 0.55%.

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