Asian equity benchmarks are trading mixed on Friday, as the investors went cautious amid protracted vote-counting after this week’s US elections. Markets are betting on control of the US Congress being split between Republicans and Democrats, which could mean low taxes and light regulation that investors like stay in place. Technological share are major gainers. Oil stocks in lower note after crude oil’s slump last night. Gold is notably higher. Japan’s Nikkei is advancing in line with the Wall Street gains overnight. Nikkei is trading higher for third session in a row, while exporters seen mixed with the stronger yen. Among the Asian markets, Japan, Taiwan, Indonesia, and Malaysia are in positive side. Bucking the trend, Singapore, Hong Kong, South Korea and China are trading lower.
Nikkei 225 up by 237.15 points, 0.98% to 24,342.43, Taiwan Weighted boosted 31.24 points or 0.24% to 12,950.04, Jakrata Composite jumped by 28.47 points or 0.54% to 5,288.80, and FTSE Bursa Malaysia KLCI buoyed by 5.94 points or 0.40% to 1,507.43.
On the flip side, Straits Times down by 17.16 points 0.66% to 2,571.46, Hang Seng dipped by 103.13 points or 0.40% to 25,592.79, KOSPI Index decreased 4.39 points or 0.18% to 2,409.40, and Shanghai Composite narrowed by 16.79 points or 0.51% to 3,303.34.
