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Asian markets trade mostly lower in early deals on Friday

19 Aug 2016 Evaluate

Most of the Asian equity benchmarks are trading lower in the early deals on Friday, as investors hunkered down to mull resurgent oil prices and corporate earnings while awaiting a key speech by the Fed chief next week. However, the Japanese market is advancing, with a weaker yen and the surge in crude oil prices lifting investor sentiment. Among the other Asian markets, Shanghai, South Korea, Hong Kong, Malaysia, Indonesia and Taiwan are marginally lower. Bucking the trend, Singapore is modestly higher.

Hang Seng dipped 67.75 points or 0.29% to 22,955.41, Taiwan Weighted dropped 59.33 points or 0.65% to 9,063.17, Shanghai Composite slipped 14.04 points or 0.45% to 3,090.07, Jakarta Composite declined 6.67 points or 0.12% to 5,454.78, FTSE Bursa Malaysia KLCI decreased 3.73 points or 0.22% to 1,691.14, and KOSPI Index was down by 3.16 points or 0.15% to 2,052.31.

On the flip side, Nikkei 225 gained 66.77 points or 0.41% to 16,552.78, and Straits Times was up by 7.93 points or 0.28% to 2,844.91.

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