Analysts from Tortola Capital report that Hong Kong's Hang Seng also fell, losing 36.52 points, or 0.2 percent, to 21,422.05. Markets in Taiwan and Singapore also fell, but South Korea's market was up 3.43 points, or 0.2 percent, to 1,715.21. China’s market also beat the trend, and rose 0.3% to 3,246.87.
Quarterly reports from banking giants like Citigroup Inc. and Wells Fargo are due this week, and once they are released we can expect the Asian markets to adjust, reports Henry Marshall, CEO of Tortola Capital. Weak market performances are also due to higher oil prices in Asia, he explains. Crude oil for February delivery climbed 36 cents to $78.36 a barrel this week.
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