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Asian Markets trade mixed in early deals on Wednesday

02 Jun 2021 Evaluate
Most of the Asian equity benchmarks traded mixed in early deals on Wednesday, as the participants went wary amid the continued accelerating covid infections and the slowing economic activities with the lockdown restrictions to avoid fresh outbreaks. The market also awaited for the monthly job data from US Labor Department for more cues on economic health. Financial stocks mostly in advancing trend. Technological equities are mostly mixed, while gold miners subdued in the session. Japan’s Nikkei rebounded from earlier losses hovering the index   just below the key 29,000 mark. Cautious outlook amid the fourth wave infections with the highly contagious variants of the virus capped some gains. Among the Asian markets, Japan, South Korea, Indonesia and Malaysia are in positive territory. On the flip side, Singapore, Hong Kong, Taiwan and China are trading lower.

Nikkei 225 up by 99.87 points or 0.35% to 28,914.21, KOSPI widened 0.36 points or 0.01% to 3,222.23, Jakarta Composite lifted 62.44 points or 1.05% to 6,009.90, and FTSE Bursa Malaysia KLCI rose by 8.58 points 0.54% to 1,594.48.

Bucking the trend, Straits Times down 27.08 points or 0.85% to 3,160.15, Hang Seng lower by 147.90 points or 0.50% to 29,320.10, Taiwan Weighted narrowed by 50.14 points or 0.29% to 17,112.24, and Shanghai Composite slipped by 23.47 points or 0.65% to 3,601.24.

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