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Asian Markets trade mostly lower in early deals on Tuesday

08 Jun 2021 Evaluate
Most of the Asian equity benchmarks traded lower in early deals on Tuesday, as the investors sideline amid still lingering worries over global economic health with the continued spread of covid-19 virus and restrictions to contain it. Traders also eyed on the key US inflation report to be release on Thursday for more cues on monetary policy outlook of US Federal Reserve. Japan’s Nikkei is trading lower with the liquidation after two straight sessional gains, followed by the first decline in GDP since Q2 2020, in midst of the continued surge in covid-19 cases and slow vaccine rollout. Among the Asian markets, Japan, Singapore, Hong Kong, China and Indonesia, are in negative territory. On the flip side, South Korea, Taiwan, and Malaysia are trading higher.

Nikkei 225 down by 21.83 points or 0.08% to 28,997.41, Straits Times slipped 8.74 points or 0.28% to 3,167.07, Hang Seng trimmed by 101.78 points or 0.35% to 28,685.50, Jakarta Composite lower 47.32 points or 0.78% to 6,022.62, and Shanghai Composite narrowed by 18.29 points or 0.51% to 3,581.25

Bucking the trend, KOSPI widened 0.22 points or 0.01% to 3,252.34, Taiwan Weighted rose by 15.76 points or 0.09% to 17,099.67, and FTSE Bursa Malaysia KLCI up by 7.63 points 0.48% to 1,586.08.

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