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Asian Markets trade mixed in early deals on Wednesday

05 May 2021 Evaluate
Asian equity benchmarks traded mixed early deals on Wednesday, as the market exercised caution in midst of continued surge of novel coronavirus infections and on a holiday thin-trade. Stock markets of Japan, South Korea and China are closed for a public holiday. Investors also digested the comments from US Treasury secretary Janet Yellen about the necessity for eventual rise in interest rates to prevent the overheating in the economy amid the recent spike in government spending. Technological share sell off in US market also caught the trend, while banking sector remained mixed. Oil stocks advanced with the strong crude oil rates overnight. Among the Asian markets, Hong Kong, Taiwan, and Indonesia are trading higher. Bucking the trend, Singapore, and Malaysia are in negative note. 

Hang Seng rose by 2.66 points or 0.01% to 28,559.80,Taiwan Weighted hiked 74.66 points or 0.44% to 17,008.44, and Jakarta Composite increased by 12.11 points or 0.20% to 5,975.93

Bucking the trend, Straits Times down 26.89 points or 0.85% to 3,152.24, and FTSE Bursa Malaysia KLCI narrowed by 1.67 points 0.11% to 1,586.58.

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