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Asian Markets trade mostly higher in early deals on Wednesday

21 Jul 2021 Evaluate
Most of the Asian equity benchmarks traded higher in early deals on Wednesday, due to bargain hunting after modest wilt in previous sessions amid fears over global economic health followed by the continued acceleration in spread of highly contagious coronavirus delta variant across the globe. Technological and automobile stocks majorly gained with a huge buy back at prevailing lower levels. Japan’s Nikkei rebounded after five straight consecutive sessional gains, with the benchmark above 27400 level, after the exports rose modestly. Optimistic comments after Bank of Japan's monetary policy meeting also buoyed the sentiments. The investors however remained concerned over  the recent acceleration in the new wave of coronavirus cases, particularly in Olympic city Tokyo. Among the Asian markets, Japan, Singapore, Indonesia, China and Malaysia are in positive trend. Bucking the trend, Hong Kong, Taiwan, and South Korea are in negative mode.

Nikkei 225 up by 74.25 points or 0.27% to 27,435.12, Straits Times rose by 0.51 points or 0.02% to 3,111.71, Jakarta Composite widened by 20.39 points 0.34% to 6,037.78, Shanghai Composite enlarged by 21.32 points or 0.60% to 3,558.11, and FTSE Bursa Malaysia KLCI lifted by 0.10 points or 0.01% to 1,520.07.

On the flip side, Hang Seng dipped by 100.14 points or 0.37% to 27,159.11, Taiwan Weighted lower by 145.64 points or 0.83% to 17,383.10, KOSPI narrowed 14.27 points or 0.44% to 3,218.43.

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