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Asian markets trade mostly lower in early deals on Wednesday

07 Aug 2019 Evaluate

Most of the Asian equity benchmarks are trading lower on Wednesday, amid report that Chinese central bank set the midpoint for its currency’s exchange rate against the dollar. The Chinese currency fell against the US dollar in offshore trade after the currency's daily fixing. Japanese Nikkei is trading lower despite positive cues from Wall Street. Among the other Asian markets, Shanghai, Hong Kong, South Korea, and Malaysia are trading lower. On the flip side, Singapore, Taiwan and Indonesia are in positive lead.

Nikkei 225 down 83.59 points or 0.41% to 20,501.72, Hang Seng diminished 97.10 points or 0.37% to 25,879.14,  KOSPI Index down 5.06 points or 0.26% to 1,912.44, Shanghai narrowed 0.20 points 0.01% to 2,777.36, and FTSE Bursa Malaysia KLCI down 7.08 points or 0.44% to 1,604.71.

Bucking the trend, Straits Times up 4.30 points or 0.14% to 3,174.77, Taiwan Weighted increased 29.68 points or 0.29% to 10,424.43, Jakarta Composite rose by 87.87 points or 1.44% to 6,207.34.

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