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Asian Markets trade mostly lower in early deals on Tuesday

04 May 2021 Evaluate
Most of the Asian equity benchmarks traded lower early deals on Tuesday, in a choppy session as the market sentiments got dulled with the surge in covid cases mainly in Japan and India and the potential economic restrictions raised concerns over the prospects for a faster economic rebound from the pandemics. Technical and financial sectors subdued in the session, while oil stocks rose on the gain of crude oil overnight. Stock markets of Japan, and China are closed for a holiday. Meanwhile, the dollar eased against a basket of currencies as the yield on Treasury bonds retreated on data showing US manufacturing activity grew at a slower pace in April. Among the Asian markets, Singapore, South Korea, Taiwan, and Indonesia are trading lower. Bucking the trend, Hong Kong and Malaysia are in higher note. 

Straits Times down 5.70 points or 0.18% to 3,179.06, Taiwan Weighted slipped 372.85 points or 2.16% to 16,849.50, KOSPI Index narrowed by 4.80 points or 0.15% to 3,122.40, and Jakarta Composite decreased by 19.30 points or 0.32% to 5,933.30.

Bucking the trend, Hang Seng rose by 71.09 points or 0.25% to 28,428.63,and FTSE Bursa Malaysia KLCI widened by 6.18 points 0.39% to 1,596.91.

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