Most of the Asian equity benchmarks traded lower in early deals on Wednesday, following negative cues from US Stocks overnight amid concerns over stock valuation in line with inflation worries. Oil shares in higher note despite positive crude oil rates overnight. Japan’s Nikkei which resumed after yesterday’s holiday trading below the 30,000 level as gains in real estate stocks was offset by losses in technology stocks, though optimism over global economic recovery capped some loss . Among the Asian markets, Japan, Hong Kong, Taiwan, Indonesia, South Korea, and China are in negative pace. Bucking the trend , Singapore and Malaysia are in higher note.
Nikkei 225 down by 295.78 points or 0.98% to 29,860.25, Hang Seng decreased by 586.69 points or 1.92% to 30,045.95, Taiwan Weighted lower 26.49 points or 0.97% to 16,284.48, KOSPI Index dipped 44.01 points or 1.43% to 3,026.08, Jakarta Composite narrowed by 15.53 points or 0.25% to 6,257.28, Shanghai Composite curtailed by 56.41points or 1.55% to 3,579.95.
On the flip side, Straits Times rose by 37.91 points or 1.31% to 2,928.61,and FTSE Bursa Malaysia KLCI buoyed by 4.62 points 0.30% to 1,569.67.
