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Asian markets trade mostly lower on Friday

21 Oct 2016 Evaluate

Most of the Asian equity benchmarks are trading lower on Friday with the negative lead from Wall Street and the fall in crude oil prices dampening investor sentiment. The US dollar strengthened against most peers, while crude oil prices declined further in Asian trades. Chinese stocks rose despite traders balanced yuan declines with strong China housing price data release. Among the other Asian markets, South Korea, Indonesia, Singapore and Taiwan are down with modest losses. Bucking the trend, Malaysia is marginally higher. The Hong Kong stock market was closed as the city shut down for Typhoon Haima.

Nikkei 225 slipped 70.31 points or 0.41% to 17,165.19, Straits Times decreased 18.31 points or 0.64% to 2,824.31, KOSPI Index contracted 9.98 points or 0.49% to 2,030.62, Taiwan Weighted dipped 10.67 points or 0.11% to 9,306.57, and Jakarta Composite was down by 7.08 points or 0.13% to 5,396.61.

On the flip side, FTSE Bursa Malaysia KLCI added 2.63 points or 0.16% to 1,669.81, and Shanghai Composite was up by 0.32 points or 0.01% to 3,084.78.

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