Asia markets lower as election vote counting kicks off in India
Istanbul, June 4 (Hibya) - Asia markets were lower on Tuesday, led by the Indian markets, as the country started counting votes for its 2024 general election.
Japan’s Nikkei 225 fell 0.22 percent, while the broader Topix dipped 0.24 percent. South Korea’s Kospi shed 0.47 percent, and the smaller-cap Kosdaq reversed earlier declines to rise by 0.8 percent. Hong Kong’s Hang Seng index edged 0.31 percent higher, while the CSI 300 index added 0.4 percent. In Australia, the S&P/ASX 200 index was down 0.19 percent.
The world’s most populous country started counting votes at 8 a.m. local time, with Prime Minister Narendra Modi projected to win a rare third consecutive term per the exit polls.
The Nifty 50 index was down 3.5 percent, while the BSE Sensex fell 1.5 percent after the main stocks gauges in India hit record highs on Monday.
Over the weekend, local exit polls projected Modi and his Bharatiya Janata Party-led alliance winning a decisive majority in the lower house of the parliament.
Overnight, U.S. stock index futures were listless as Wall Street looked to find its footing after an uneven start to the month.
Futures for the Dow Jones Industrial Average were roughly flat. S&P 500 futures and Nasdaq 100 futures
ticked up less than 0.1 percent each.
The Dow fell more than 115 points, or 0.3 percent, on the first trading day of June. The S&P 500 and Nasdaq Composite both rose modestly on Monday.
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