Most of the Asian markets are trading higher in the early deal on Wednesday tracking cues from Wall Street where stocks closed on a positive note overnight on some upbeat economic data. Financial, mining and industrial stocks are edging higher, while property trusts and telecom stocks are weak, energy and healthcare stocks are trading mixed. After a bright start on positive cues from Wall Street and a weaker yen, the Japanese market retreated and shed most of its gains this morning, with investors indulging in some profit taking. Among other markets in the Asia-Pacific region, Indonesia, Malaysia, South Korea and Taiwan are notably higher. Shanghai and Singapore are up with modest gains, while Hong Kong is slightly weak.
KOSPI Index rose by 3.47 points or 0.17% to 2,071.52, Shanghai Composite strengthens by 5.01 points or 0.23% to 2,212.12, Jakarta Composite jumped by 18.57 points or 0.36% to 5,165.12. Taiwan Weighted gained by 79.97 points or 0.85% to 9,473.93, FTSE Bursa Malaysia KLCI surged by 6.64 points or 0.36% to 1,868.46 and Straits Times was up 16.27 points or 0.49% to 3,339.29.
On the flip side, Nikkei 225 tumbled by 27.13 points or 0.17% to 15,494.09 and Hang Seng was down 7.32 points or 0.03% to 25,067.18.