Asian equity benchmarks are trading bearish on Friday, extending losing streak from previous session as the investors side-lined ahead to the US presidential election and on concerns about global economic downturn with the surging Covid infections. The main losers in the section is tech sector. Tech giant Apple's suppliers in the Asian region are notably lower. Though, mining, banking and oil stocks are advancing in the session. While, Japan’s Nikkei is down for the fifth straight session in a row as the investor sentiments got dampened with the sluggish third-quarter revenue report from iPhones and also as it did not provide any outlook for the holiday quarter. Stock markets in Indonesia is close for a holiday, Prophet Mohammad's Birthday. Among the Asian markets, Japan, Singapore, Hong Kong, Taiwan South Korea, China, and Malaysia are in negative side.
Nikkei 225 down by 277.46 points, 1.19% to 23,054.48, Straits Times dipped by 10.37 points 0.42% to 2,440.31, Hang Seng slipped by 171.12 points or 0.70% to 24,415.48, Taiwan Weighted curtailed 84.33 points 0.67% to 12,578.58, KOSPI Index decreased 41.96 points or 1.80% to 2,284.71, Shanghai Composite diminished by 5.81 points or 0.18% to 3,266.92 and FTSE Bursa Malaysia KLCI narrowed by 12.19 points or 0.82% to 1,483.01.
