Most of the Asian equity benchmarks are trading lower on Friday, retreated due to profit booking after strong gains in previous sessions followed by hopes on more stimulus under the new Biden administration and ramped up efforts to combat the coronavirus. Oil shares are in negative territory with the lower crude oil rates followed by an unexpected increase in U.S. crude inventories. While, gold miners are in mixed after gold rates inched lower overnight. Japan’s Nikkei is advancing ahead to the Bank of Japan's monetary policy decision due later today, and on technical correction after previous session’s low levels. Moreover, exporting got buoyed with the weaker yen currency. Among the Asian markets, Japan, Singapore, Taiwan, Hong Kong, Indonesia, China and South Korea are in negative note. Bucking the trend, Malaysia is trading higher.
Nikkei 225 down by 82.13 points or 0.29% to 28,674.73, Straits Times dipped by 22.01 points or 0.73% to 2,995.14, Hang Seng decreased by 447.65 points or 1.50% to 29,480.11, Taiwan Weighted curtailed 125.59 points or 0.78% to 16,028.18, KOSPI Index reduced 1.27 points or 0.04% to 3,159.57, Jakarta Composite narrowed 95.76 points or 1.49% to 6,318.13, and Shanghai Composite lower by 26.26 points or 0.73% to 3,595.00.
On the flip side, FTSE Bursa Malaysia KLCI up by 9.67 points 0.61% to 1,604.47.
