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Asian Markets trade mixed in early deals on Wednesday

28 Apr 2021 Evaluate
The Asian equity benchmarks were trading mixed in early deals on Wednesday, with the caution ahead to US Federal Reserve Policy decision due later today and on intensified COVID-blow world-wide compelling more economic restrictions spurring concerns over global economic health. While, Japan’ Nikkei rebounded from its earlier losses with some optimism after upbeat retail sales data. The value of retail sales in Japan was up 5.2% on year in March, marking the first growth in retail trade since November 2020 and the steepest pace in five months, beating expectations for an increase of 4.7% following the 1.5% decline in the previous month. However, mounting tensions about the restrictions in economic activity amid the strong fourth wave of coronavirus infections driven by more contagious variants, capped some gains. Among the Asian markets, Singapore, South Korea, Taiwan, China and Malaysia are in negative territory. Bucking the trend, Japan, Hong Kong and Indonesia are trading higher.

Straits Times decreased 2.49 points or 0.08% to 3,211.94, KOSPI Index diminished by 29.13 points or 0.91% to 3,186.29, Taiwan Weighted narrowed 44.94 points or 0.26% to 17,550.96, Shanghai Composite curtailed by 1.51 points or 0.04% to 3,441.10 and FTSE Bursa Malaysia KLCI narrowed by 5.84 points 0.36% to 1,600.84.

On the flip side, Nikkei 225 up by 105.26 points or 0.36% to 29,097.15, Hang Seng rose by 36.95 points or 0.13% to 28,978.49, and Jakarta Composite increased by 7.17 points or 0.12% to 5,966.79.

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