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Asian markets trade mostly higher in early deals on Tuesday

17 Nov 2020 Evaluate
Most of the Asian equity benchmarks are trading lower on Tuesday, catching up with the positive momentum in Wall Street overnight in tandem with the more optimistic news on the coronavirus vaccine development front. As per reports from Moderna, a late-stage trial showed its coronavirus vaccine candidate was more than 94 percent effective in preventing infection, boosted market sentiments. Oil shares are trading higher with the rise in crude oil rates overnight. Japan’s Nikkei is trading higher as the investor sentiments got bolstered after the country marked its first rise in four quarters after coronavirus-induced recession. Japanese shares ended at a fresh 29-year high in the previous session. Among the Asian markets, Japan, Singapore, Hong Kong, Indonesia, South Korea, Taiwan and Malaysia are in negative side. Bucking the trend, China is trading lower.

Nikkei 225 up by 98.29 points, 0.38 % to 26,005.22, Straits Times widened by 30.42 points 1.11% to 2,778.42, Hang Seng lifted by 26.57 points or 0.10% to 26,408.24, KOSPI Index increased 4.42 points or 0.17% to 2,547.45, and Taiwan Weighted rose 73.84 points 0.54% to 13,625.67, Jakarta Composite enlarged by 54.31 points or 0.99% to 5,549.18, and FTSE Bursa Malaysia KLCI rose by 4.47 points or 0.28% to 1,604.13

On the flip side, Shanghai Composite down by 6.65 points or 0.20% to 3,340.32.

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