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Asian markets trade mostly lower in early deals on Tuesday

27 Oct 2020 Evaluate
Most of the Asian equity benchmarks are trading lower on Tuesday, with the mounting worries over surge in coronavirus infections world wide as well as on fading hopes for US fiscal stimulus before next week's presidential elections. Covid-19 new infections marked a new record high on last Friday. Oil shares traded lower with the negative crude oil rates overnight. Crude oil prices had fell to a three-week low level. Japan’s Nikkei, is in weak trend weighed on hefty sell-off on wall street overnight and on firmer safe-haven yen. Among the Asian markets, Japan, Singapore, Hong Kong, Taiwan South Korea, China, and Indonesia are in negative trend. Bucking the trend, Malaysia is in upward mode.

Nikkei 225 down by 17.68 points, 0.08% to 23,476.66, Straits Times dipped by 14.64 points 0.58% to 2,508.67, Hang Seng narrowed by 217.24 points or 0.54% to 24,701.54, Taiwan Weighted curtailed 36.93 points 0.29 % to 12,872.10, KOSPI Index slipped 15.93 points or 0.68% to 2,327.98, Jakarta Composite decreased by 6.18 points or 0.12% to 5,137.87, and Shanghai Composite diminished by 1.10 points or 0.03% to 3,250.02.

On the flip side, FTSE Bursa Malaysia KLCI up by 5.55 points or 0.37% to 1,500.16.

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