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Asian Markets trade mostly higher in early deals on Tuesday

16 Mar 2021 Evaluate
Most of the Asian equity benchmarks traded higher in early deals on Tuesday, whetted by the increased risk appetite in the market with the growing optimism over global economic recovery and on positive US stocks overnight ahead to to key Fed meeting this week. Oil stocks retreated after weak crude oil overnight. Japan’s Nikkei is picking up with after breaching the 30,000 mark earlier, as investors continued to buy cyclical stocks on prospects of a stimulus-driven global economic recovery getting brighter. Though, stronger local currency yen capped some gains. Among the other Asian markets, Singapore, Hong Kong, Taiwan, South Korea, Indonesia and China are in green. Bucking the trend, Malaysia is trading lower.

Nikkei 225 up by 153.82 points or 0.52% to 29,920.79, Straits Times rose by 0.89 points or 0.03% to 3,106.89, Hang Seng increased 178.13 points or 0.62% to 29,011.89, Taiwan Weighted widened 54.94 points or 0.34% to 16,304.27 KOSPI Index enlarged by 25.83 points or 0.85% to 3,071.54, Jakarta Composite lifted by 7.09 points or 0.11% to 6,331.35, and Shanghai Composite higher by 14.39 points or 0.42% to 3,434.34.

On the flip side, FTSE Bursa Malaysia KLCI down by 0.09 points 0.01% to 1,620.83.

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