2016.04.0423:20:00UTC+00Asian Stocks in Red, Gold Back Above $1220

All the major Asian indices are trading on a lower note on Tuesday. Japanese stocks fell sharply on Tuesday morning in Tokyo after the release of upbeat wage data. On the other side, Japanese Yen falls below 111.00 mark and trading around 110.87 marks. Today Japan released Labour cash earnings data with positive numbers at 0.9% m/m vs 0.0% previous release.

In addition, Yellow metal recovers from 5- day low and supported above $1220 marks.

Japan’s Nikkei 225 index was trading 2.19% lower to 15,769.04 points in early trade on Tuesday, and Tokyo's broader Topix index fall 1.96% to 1,277.14 points.

Hong Kong's Hang Seng index opened the week 1.68% lower at 20,154.27 points, while mainland China's Shanghai Composite rose 0.16% to 3,014.44 points.

South Korea’s Kospi was trading 0.84% lower at 1961 points.

Australia's S&P/ASX 200 index was trading 1.64% lower to 4,912.40 points on Tuesday morning in Sydney. Today Australia’s Services index falls to 49.5 m/m vs 51.8 m/m previous release. In addition, Australia’s trade deficit widened from a revised $3.16 billion in January to $3.41 billion in February. The RBA is due to deliver its April cash rate statement at 0430 GMT, though most economists see little chance that the bank makes a move today.

New Zealand’s benchmark S&P/NZX 50 index was trading 0.15% lower at 6,733.32 points. Today NZIER disclosed that a net 2% of businesses were optimistic about the outlook for the economy last quarter, down from a net 15% in the previous quarter. Lower business confidence data increases the risk of a follow-up interest rate cut from the RBNZ in April.