Newstovote - Asian stock markets were mostly lower in trading on Tuesday, November 5, 2013. Investors took a cautious stance on the market ahead of the central bank on the latest economic data.
As reported by CNBC, the Nikkei index at the Tokyo Stock Exchange fell 0.4 percent and traded at 14179.26.
Meanwhile, the Shanghai Composite Index reached its lowest level during the past week and was trading at 2135.14 levels.
While the Kospi index in South Korea's stock fell 0.5 percent and traded at 2,015, 52.
But the S & P ASX 200 in Australia stock rose more than 1 percent and traded at 5431.30.
This trend is considered to be the influence of the close of Wall Street who just gave a slight increase in the stock market. Investors tend to be cautious in uncertain projections of the timing of the Fed's tightening of monetary stimulus.
The Nikkei fell 0.4 percent, Japan's benchmark stock is gradually approaching its lowest level in the past week is 14 126. Decline in the Nikkei index was dragged by Nissan Motor's stock fell 10 percent.
Nissan announced on Friday cut its annual net profit forecast because of cost burdened withdrawal ( recall ) products are expensive. The carmaker is scheduled to report quarterly earnings this week.Meanwhile, the exchange rate of the yen against the dollar fell to 98.40 after hitting 98.67 in early trade. The fall in the value of the yen weakening affect in stock.
Electronic stock was the most actively traded. Nikon fell nearly 3 percent while Sharp slid more than 4 percent.
Shanghai Stock Exchange fell 1 percent. China index fell below the 2,130 level to trade lower for the week ahead of key government officials meeting this weekend.
Financial stocks got hit the hardest. Pudong Development Bank, Industrial Bank, and Haitong Securities fell 2 percent respectively.
In Hong Kong, HSBC shares rallied more than 1 percent after posting third- quarter net income rise 28 percent.
HSBC survey showed China's growth in service industries rose to 52.6 in October, up from 52.4 last month outcomes.
Sydney Stock Exchange rose 0.7 percent. Australian investors are likely to be cautious ahead of policy decisions Reserve Bank of Australia. Meanwhile, the Australian dollar rose above 95 U.S. cents in early trade.
Banking stocks rose as the Australia New Zealand Banking and Commonwealth Bank of Australia , which rose by 0.8 percent after posting record profits earlier this month.
Whitehaven Coal mining shares rose 2.6 percent.
South Korean stocks slipped 0.5 percent. Seoul shares fell to their lowest level since October 11 due to a 1.6 percent decline in heavyweight stocks such as Samsung Electronics and Hyundai Motor.
Meanwhile, the won was trading around 1,062 per dollar after the central bank data showed foreign exchange reserves rose to a record high in October.
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