Japanese market couldn’t escape the Evergrande debacle after taking the day off on Monday for “Respect for the Aged Day”. On Tuesday, Nikkei 225 fell by -2.17% as investors monitor the Chinese Real estate giant development. Minerals, communications and producer manufacturing sectors took the biggest hits with more than 2.5% losses. iShares MSCI Japan ETF (EWJ), one of the largest Japan ETFs with $12.87bn in assets, fell by -1.44%.
Chinese and Korean markets, which were also offline on Monday, closed higher on Tuesday with the Shanghai Composite (China) and the KOSPI 50 (Korea) gaining +0.19% and +0.47% respectively. The Xtrackers MSCI China UCITS ETF which invests in large and mid-Cap Chinese Equities is currently trending higher with +0.22% gains (London Exchange, 1:32 PM GMT +1). Similarly, the Lyxor MSCI Korea UCITS ETF, with exposure to Korean equities is up by +0.67% on the Paris stock exchange (1:11 PM GMT +2).
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