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Asian Markets trade mostly lower in early deals on Thursday

04 Mar 2021 Evaluate
Most of the Asian equity benchmarks traded lower in early deals on Thursday, in line with the weak trend in Wall Street overnight amid concerns over inflation with the peaking government bond yields. Additionally, profit booking after previous session’s gains also dragged equities further. Japan’s Nikkei retreated from previous session gains with the hefty sell off in technology shares and as exports got pressured with the stronger yen. Among the other Asian markets, Taiwan, Indonesia, South Korea,  Hong Kong, China and Malaysia are trading higher. Bucking the trend, Singapore trade higher.

Nikkei 225 down by 625.73 points or 2.12% to 28,933.37, Hang Seng decreased by 762.12 points or 2.55% to 29,118.30, Taiwan Weighted narrowed 260.93 points or 1.61% to 15,950.80, KOSPI Index diminished 34.50 points or 1.12% to 3,048.49, Jakarta Composite dipped by 87.53 points or 1.37% to 6,289.23, Shanghai Composite subdued by 52.91 points or 1.48% to 3,523.99 and FTSE Bursa Malaysia KLCI lower by 8.32 points 0.52% to 1,580.13.

On the flip side, Straits Times rose by 6.12 points or 0.20% to 3,006.49.

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