Most of the Asian equity benchmarks are trading lower on Friday, as the woes over global economic health accelerated with the surge in the covid-19ainfections. Some of the states in US and Europe are re-imposing restrictions and lockdowns to slow the spread of the novel coronavirus. Oil shares are easing with the decline in crude oil rates overnight. Japan’s Nikkei retreated after eight days of continuous gains as the country also recorded a surge in coronavirus cases, prompting the government to extend the restriction on spectator numbers at large events. Exporters in Japan are lower with the firmer safe haven yen. Among the Asian markets, Japan, Singapore, Hong Kong, Indonesia China, and Malaysia are in negative side. Bucking the trend, South Korea, and Taiwan are trading higher.
Nikkei 225 down by 179.01 points, 0.70 % to 25,341.87, Straits Times dipped by 11.33 points 0.42% to 2,700.57, Hang Seng slipped by 105.15 points or 0.40% to 26,064.23, Jakarta Composite diminished by 26.71 points or 0.49% to 5,431.89 and Shanghai Composite curtailed by 23.58 points or 0.71% to 3,315.10., and FTSE Bursa Malaysia KLCI narrowed by 3.60 points or 0.23% to 1,587.18.
On the flip side, KOSPI Index increased 13.93 points or 0.56% to 2,489.55, and Taiwan Weighted rose 29.47 points or 0.22% to 13,251.25.
