Most of the Asian equity benchmarks are trading lower on Thursday, as the continued surge in covid-19 infections and new economic restrictions in some states of US dampened investor sentiments. Initial optimism over headway in a coronavirus vaccine trial faded with the raising concerns like time horizon, manufacturing capacity, deliver, storage and even distribution of the vaccine in highly populated countries like India and Indonesia. Tech share are the major performers, after tech sector in US rebounded overnight. Oil shares are in negative note, while gold miners are mixed. Japan’s Nikkei extended its winning streak to eighth session in a row following positive cues in US market overnight, although firmer yen weighed on the exporters of the country. Among the Asian markets, Singapore, Hong Kong, South Korea, Taiwan, Indonesia and China, are in negative side. Bucking the trend, Japan and Malaysia are trading higher.
Straits Times down by 10.50 points 0.39% to 2,702.78, Hang Seng slipped by 67.88 points or 0.26% to 26,159.10, KOSPI Index decreased 10.05 points or 0.40% to 2,475.82, Taiwan Weighted narrowed 63.50 points or 0.48% to 13,198.69, Jakrata Composite diminished by 32.37 points or 0.59% to 5,477.14, and Shanghai Composite curtailed by 8.49 points or 0.25% to 3,333.71.
On the flip side, Nikkei 225 up by 52.10 points, 0.21 % to 25,401.70, and FTSE Bursa Malaysia KLCI rose by 8.00 points or 0.51% to 1,578.08.
