Asian Stocks Decline On Tuesday

(RTTNews) - Asian equity markets slipped on Tuesday, weighed down by tensions in the Middle East and efforts to reopen the Strait of Hormuz. The hawkish interest rate hike by the Reserve Bank of Australia also weighed on sentiment. Markets in China, Japan and South Korea are closed for a holiday.

The Hang Seng Index of the Hong Kong Stock Exchange lost 197 points or 0.76 percent from the previous close to finish trading at 25,898.61. The day's trading range was between a high of 25,945.75 and a low of 25,690.36. The index has gained more than 15 percent over the course of the past year.

Australia's S&P/ASX200 closed trading at 8,680.50, losing 17 points or 0.19 percent from the previous close of 8,697.10, amidst the Reserve Bank of Australia's widely anticipated interest rate hike. The day's trading ranged between 8,621.60 and 8,697.10. The index has gained 6.4 percent over the course of the past year.

Capricorn Metals led gains with an addition of 9.3 percent followed by Ventia Services Group that rallied 5.7 percent. Codan plunged 9.4 percent followed by IDP Education that erased 7.1 percent.

The NZX 50 of the New Zealand Stock Exchange shed 62 points or 0.47 percent to close trading at 13,035.70. The day's trading ranged between 12,948.76 and 13,097.68. The index has gained 4.9 percent over the past year.

Tourism Holdings topped gains with a surge of 4.5 percent. Vista Group International followed with gains of 2.6 percent. Westpac Banking Corp led losses with a decline of 3.7 percent, followed by Mainfreight that shed 3.4 percent.

Wall Street had closed on a negative note on Monday amidst an escalation in tensions in the Middle East. The Dow Jones Industrial Average slipped 1.1 percent to finish trading at 48,941.90. The S&P 500 also declined 0.41 percent to finish trading at 7,200.75. The tech-heavy Nasdaq Composite also shed 0.19 percent to close trading at 25,067.80.