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Asian Markets trade mostly higher in early deals on Tuesday

25 May 2021 Evaluate
Most of the Asian equity benchmarks traded higher in early deals on Tuesday, as the hefty buying of Technological shares in Wallstreet overnight cheered up the buying in Asian stocks after Federal Reserve’s comforting comments on inflation. Moreover short covering at prevailing lower levels also added the upward momentum. However, soaring viral infection counts and the ambiguity in global economic rebound limited some gains. Stocks of the technological, minerals, energy and financial sector shares majorly boosted the region’s indices. Japan’s Nikkei extended winning streak to the fourth straight session above the 28,500 level, in line with the positive trend in Wall street overnight. Investors however remained cautious amid fourth wave highly contiguous infection and as Tokyo is to decide this weekend on extending the COVID-19 state of emergency into June as the Olympic countdown begins. Among the Asian markets, Japan, Singapore, Hong Kong, South Korea, Taiwan, Indonesia and China are in positive outlook. On the flip side,  Malaysia edged lower.

Nikkei 225 up by 151.59 points or 0.53% to 28,516.20, Straits Times rose 15.68 points or 0.50% to 3,139.29, Hang Seng dropped by 353.77 points or 1.25% to 28,766.03, Taiwan Weighted lifted by 257.15 points or 1.57% to 16,567.20, KOSPI added 19.57 points or 0.62% to 3,163.87, Jakarta Composite increased by 73.45 points or 1.27% to 5,837.08, and Shanghai Composite buoyed by 55.93 points or 1.60% to 3,553.21.

Bucking the trend, FTSE Bursa Malaysia KLCI down by 0.29 points 0.02% to 1,571.53.









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