Most of the Asian equity benchmarks are trading lower on Thursday, weighed down in line with the down ward trend in Wall Street overnight pressured by concerns over excessive stock valuations and as Federal Reserve left its benchmark interest rate unchanged. Moreover, the market sentiments got dulled with the concerns over the impact of new, more contagious coronavirus strains along with uncertainty about the prospects for a new relief package. Oil stocks traded lower though crude oil rates rebounded overnight. Meanwhile gold miners eased after the yellow metal registered fifth consecutive sessional lose overnight. Japan’s Nikkei traded bearish in the session with the lower exporting and on sell off following US valuation worries. Among the Asian markets, Japan, Hong Kong, Singapore, Taiwan, China, Indonesia and South Korea are in negative note. Bucking the trend, Malaysia is trading higher.
Nikkei 225 down by 399.76 points or 1.40% to 28,235.45, Hang Seng decreased by 32.44 points or 1.10% to 2,926.19, Straits Times dipped by 32.44 points or 1.10% to 2,926.19, Taiwan Weighted narrowed 306.66 points or 1.95% to 15,394.79, KOSPI Index slipped 49.37 points or 1.58% to 3,073.19, and Jakarta Composite curtailed 85.44 points or 1.40% to 6,023.73, and Shanghai Composite lower by 47.88 points or 1.34% to 3,525.46.
On the flip side, FTSE Bursa Malaysia KLCI lifted by 56.25 points 0.49% to 11,455.14
