Asian shares dip after reaching 10-year highs

Asian markets fell after reaching their highest since 2007, opening the door for profit-taking operations, especially with sluggish oil crude prices.

Investors used a lull in the markets ahead of Chinese trade data to sell-off shares for profit-taking, after strong performance by Asian stocks recently, while financial markets look forward to U.S. inflation data later this week, which would shed light on the future path of monetary policy.

Japanese shares decreased, as TOPIX fell 0.37% or 4.63 points to 1,257.86, while Nikkei 225 dropped 0.32% or 64.03 points to 19,991.86.

Chinese CSI 300 lowered 0.02% or 0.73 points to 3,726.06, while Shanghai fell 0.11% or 3.75 points to 3,275.71.

Hong Kong’s Hang Seng shed 0.04% or 12.12 points to 27,678.24, while South Korea’s KOSPI tumbled 0.32% or 7.62 points to 2,391.13.

New Zealand’s NZX 50 declined 0.22%, or 16.91 points to 7,754.66, and finally Australia’s S&P/ASX 200 fell 0.72% or 45.86 points to 5,727.70.