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Asian markets mostly trade higher in early deals on Tuesday

06 May 2014 Evaluate

Some of the trading Asian equity benchmarks are higher in the early deals on Tuesday, with investors tracking a slightly positive lead overnight from Wall Street, ahead of a rate announcement by the Reserve Bank of Australia. However, buying interest is subdued in most of the markets due to lingering concerns about a slowdown in China and on worries about the situation in Ukraine. A final reading of China’s HSBC manufacturing purchasing managers’ index came in at 48.1 April, down from a preliminary estimate of 48.3.. Among other markets in the Asia-Pacific region, Shanghai, Indonesia, Taiwan and Singapore are up marginally, while Malaysia is slightly weak.

Shanghai Composite gained 9.48 points or 0.47% to 2,036.83, Jakarta Composite rose 9.71 points or 0.20% to 4,852.21, Straits Times increased by 3.71 points or 0.11% to 3,245.31 and Taiwan Weighted was up by 42.04 points or 0.47% to 8,912.47.

On the flip side, KLSE Composite was down by 0.56 points or 0.03% to 1,859.98.

Hong Kong and South Korea markets remained shut for the trade today for Buddha's Birthday Holiday, while the Japanese market is closed for Greenery Day.

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