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Asian markets trade mostly higher in early deals on Tuesday

15 Sep 2020 Evaluate
Most of the Asian equity benchmarks are trading higher on Tuesday, in line with the positive cues from US stock market overnight. The market sentiments also got boosted after Chinese retail sales returned to growth in August for the first time in 2020, rising 0.5% year over year. Its industrial production also rose 5.6%, up from the previous month and topping analysts’ estimates, spurring optimism on steady economic recovery. Although gains remained trimmed as the U.S. Federal Reserve's monetary policy statement is due on Wednesday, while the Bank of Japan and the Bank of England are scheduled to announce their respective monetary policy decisions on Thursday. Japan's Nikkei is trading lower with some profit booking after three consecutive sessional gains and as investors turned cautious ahead of key central bank meetings this week. Among the Asian markets, Singapore, Hong Kong China, South Korea, Taiwan, and Malaysia are in upward trend. Bucking the trend, Japan and Indonesia are in negative trend.

Straits Times up by 13.08 points 0.53% to 2,495.63, Hang Seng rose by 121.95 points or 0.49% to 24,762.23, Taiwan Weighted buoyed 59.29 points 0.46% to 12,847.11, KOSPI Index enlarged 14.59 points or 0.60% to 2,442.50 , Shanghai widened 11.09 points or 0.34% to 3,289.90, and FTSE Bursa Malaysia KLCI lifted by 6.45 points or 0.43% to 1,517.81

On the flip side, Nikkei 225 down by 109.25 points, 0.46% to 23,450.05, and Jakarta Composite decreased by 65.14 points or 1.26% to 5,096.69.

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