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Asian Markets trade mixed in early deals on Thursday

15 Apr 2021 Evaluate
Asian equity benchmarks traded mixed in early deals on Thursday, with the retreat of US indexes from all time peaks followed by the current dip of cryptocurrency exchange Coinbase Global Inc. weighing down the bank earnings. Liquidity squeeze amid hefty cash drain by the central banks also dulled the sentiments. Technological and financial sectors stocks tumbled in the session. Asian investors also closely watched for further cues in bond selling off of distressed-debt enterprise China Huarong Asset Management Co, which has pushed investment-grade spreads higher. Also awaiting key data on Chinese economic growth, industrial production and retail sales figures due on Friday. Japan’s Nikkei rebounded after previous sessional losses after the optimistic comment by Bank of Japan Governor Haruhiko Kuroda . Though , surging covid cases and continued economic activity restrictions kept a lid on investments. Japan has reported more than 4,000 new cases on Wednesday as the highly contagious variants drive a fourth wave of infections. Among the Asian markets, Japan, Singapore, South Korea, Taiwan,  and Malaysia are in positive territory. Bucking the trend, Hong Kong, Indonesia, and China are in lower note.

Nikkei 225 up by 20.52 points or 0.07% to 29,641.51, Straits Times increased 3.47 points or 0.11% to 3,182.86, KOSPI Index hiked by 11.27 points or 0.35% to 3,193.65, Taiwan Weighted rose 146.25 points or 0.87% to 17,012.22, and FTSE Bursa Malaysia KLCI higher by 3.02 points 0.19% to 1,601.30.

On the flip side, Hang Seng down by 276.93 points or 0.96% to 28,623.90, Jakarta Composite slipped by 12.55 points or 0.21% to 6,037.73, and Shanghai Composite narrowed by 40.42 points or 1.18% to 3,376.30.

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