Asian Markets trade mostly lower in early deals on Friday

05 Mar 2021 Evaluate
Most of the Asian equity benchmarks traded lower in early deals on Friday, encumbered by the peaking government bond yields, weaker Wall Street and as Federal Reserve Chairman’s remarks failed to calm concerns about higher interest rates and inflation. Surging crude oil rates also dulled the market sentiments. While, gold miners eased as gold prices hit a nine-month low rate. Japan’s Nikkei is in negative trend for the second straight session as Japanese government has extended the COVID-19 related state of emergency by two weeks for the Tokyo region to prevent a fresh wave of infections. The emergency was set to expire on Sunday. Among the other Asian markets, Taiwan, Indonesia, South Korea, Hong Kong, and China are in red. Bucking the trend, Singapore and Malaysia on higher note.

Nikkei 225 down by 187.68 points or 0.65% to 28,742.43, Hang Seng decreased by 81.39 points or 0.28% to 29,155.40, Taiwan Weighted narrowed 2.56 points or 0.02% to 15,903.85, KOSPI Index diminished 25.28 points or 0.83% to 3,018.21, Jakarta Composite dipped by 13.40 points or 0.21% to 6,277.40, and Shanghai Composite subdued by 11.80 points or 0.34% to 3,491.69 . 

On the flip side, Straits Times up by 4.23 points or 0.14% to 3,019.01and FTSE Bursa Malaysia KLCI higher by 3.81 points 0.24% to 1,585.07.

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