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Asian market trade mostly higher in early deals on Tuesday

07 Oct 2014 Evaluate

Most of the Asian equity benchmarks are trading higher in the early deals on Tuesday, while the dollar steadied after investors locked in some gains overnight on its recent rally. The overnight weak close on Wall Street and lingering concerns about the unrest in the Middle East also weighed on the markets. Meanwhile, the Japanese stock market opened on a negative note, with the yen's recovery against the greenback triggered some selling in early trades. Among other markets in the Asia-Pacific region, Hong Kong, South Korea, Indonesia and Malaysia are up with modest gains, while,  Singapore and Taiwan are modestly lower.

Hang Seng gained 118.45 points or 0.51% to 23,433.49, KOSPI Index improved 4.19 points or 0.21% to 1,972.58, Jakarta Composite spurted by 10.83 points or 0.22% to 5,010.97 and FTSE Bursa Malaysia KLCI was up by 5.38 points or 0.29% to 1,846.20.

On the flip side, Nikkei 225 tumbled by 41.98 points or 0.26% to 15,848.97, Straits Times slipped 11.06 points or 0.34% to 3,242.18 and Taiwan Weighted was down by 53.00 points or 0.58% to 9,042.14.

Shanghai market remained shut for the trade today following a week-long holiday.

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