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Asian Markets trade mostly lower in early deals on Thursday

18 Feb 2021 Evaluate
Most of Asian equity benchmarks traded lower in early deals on Thursday, in tandem with the negative cues from US stock market overnight amid concerns about inflation. Profit booking at prevailing levels also added to the selling offs. Technological shares waned considerably. Oil shares are advancing with the stronger crude oil rates overnight. Gold miners are mixed after gold prices fell for a fourth straight session overnight. The Chinese market, which resumed trading after the Lunar New Year holidays, is notably higher. Japan’s Nikkei is in negative pace as exports got weighed by the firmer yen. Among the Asian markets, Japan, Singapore, Hong Kong, South Korea, and Malaysia are in negative trend. Bucking the trend, Taiwan, Indonesia and China traded higher.

Nikkei 225 down by 39.16 points or 0.13% to 30,253.03, Straits Times dipped by 12.26 points or 0.42% to 2,908.17, Hang Seng decreased by 361.11 points or 1.16% to 30,723.83, KOSPI Index declined 30.49 points or 0.97% to 3,103.24, and FTSE Bursa Malaysia KLCI dipped by 3.52 points 0.22% to 1,591.77.

On the flip side, Taiwan Weighted higher 58.79 points or 0.36% to 16,421.08, Jakarta Composite rose by 21.85 points or 0.35% to 6,249.58, and Shanghai Composite lifted by 14.33 points or 0.39% to 3,669.42

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