Major Asian Markets End Tuesday In The Red

Except for China, Asian markets closed Tuesday in the negative territory, as concerns about inflation and faster-than-expected tightening of monetary policy triggered a rapid rise in bond yields, which negatively affects investor risk appetite.

Analysts said the decisions to be taken at the US Federal Reserve's (Fed) monetary policy meeting next week, will be critical in this regard.

The Bank of Japan made no changes in interest rates and monetary policy on Tuesday.

In revising its economic outlook, the bank kept its inflation midpoint forecast for the fiscal year 2021, which ends in March 2022, at 0% while lowering its real gross domestic product (GDP) forecast from 3.4% to 2.8%.

The bank changed its price risk assessment from "downside" to "balanced" for the first time since 2014.

With these developments, the Asia Dow, which includes the region's blue-chip companies, lost 27.43 points, or 0.71%, to close at 3,838 points.

Losing 76.27 points, or 0.27%, the Nikkei 225 index in Tokyo closed at 28,257.

The Hang Seng, the benchmark for blue-chip stocks trading on the Hong Kong stock exchange, went down 105,25 points, or 0.43%, to 24,112.

China's Shanghai stock exchange, on the other hand, posted a rise of 28.25 points, or 0.80%, to 3,569.

The Indian Sensex benchmark slid 482.61 points, or 0.79%, to close at 60,826, while the Singapore index fell 7.91 points, or 0.24%, to 3,280. -