MSCI's broadest index of Asia-Pacific shares outside Japan ticked up 0.4%, led by a 1.5% rise for the Hang Seng index in its first day of trading after this week's Lunar New Year holidays. Japan's Nikkei fell 0.4%.
CPPIB invests in logistics firm Delhivery through Fundamental Equities Asia Group stake
China's benchmark index tumbled as much as 6 percent in the last hour of trade after rallying to a three-and-half-year high of 3,091 points earlier in the session.
Greater China markets have led the losses with the Shanghai Composite and Hang Seng Index falling 15 percent and 9 percent, respectively, over the June quarter. The heavy selling in mainland markets spilled over to top trading partner Australia's S&P/ASX 200 index, which declined 3.7 percent, hurt by a slump in resource stocks.
JPMorgan AMC continues to be bullish on Indian equity market. “We are still seeing relatively good inflows into India. Though CPI inflation remains a concern, but the fall in WPI data was shot in the arm. The fall in gold and crude price will also be of big help to India,†Geoff Lewis of JPMorgan AMC said in an interview to CNBC-TV18.
According to Dhiren Sarin, Technical Analyst, Barclays its not just the Nifty, but most Asian markets are looking vulnerable in the short-term.
Cameron Brandt, senior analyst, EPFR Global explains on CNBC-TV18 that incremental funds from bonds have begun to flow into GEM equities followed by Asian equity funds led by China. Brandt adds that energy funds, which lost investor-interest have begun to witness a return of interest from the bulls.