Most of the Asian markets are trading lower in early deals on Friday due to flat close on Wall Street overnight. Profit taking after recent gains is also contributing to the weakness in some of the markets in the region. Further, Japanese stocks rose after the yen hit its weakest level in nearly six years against the dollar. However, with stocks facing stiff resistance at higher levels, the market pared a significant portion of its early gains by the time the morning session ended. Among other markets in the Asia-Pacific region, Shanghai, Indonesia are modestly higher. Singapore, Hong Kong, South Korea and Taiwan are notably lower, while Malaysia is down marginally.
FTSE Bursa Malaysia KLCI decreased by 0.43 points or 0.02% to 1,868.78, Taiwan Weighted declined by 48.08 points or 0.57% to 9,374.77, Straits Times shed 20.30 points or 0.61% to 3,326.04, KOSPI Index contracted by 7.90 points or 0.38% to 2,048.36 and Hang Seng was down by 66.65 points or 0.26% to 25,231.27.
On the flip side Nikkei 225 surged by 11.46 points or 0.07% to 15,687.64, Jakarta Composite gained by 11.43 points or 0.22% to 5,216.75 and Shanghai Composite was up by 7.00 points or 0.30% to 2,313.86.