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Asian Markets trade mostly higher in early deals on Wednesday

04 Aug 2021 Evaluate
Most of the Asian equity benchmarks traded higher in early deals on Wednesday, due to increased risk appetite in the market in tandem with the positive overnight cues from Wall street amid optimism over global economic recovery and as the Federal Reserve reassured that it will not trim on its asset purchase programme soon. Oil stocks are in higher note. While banking and technical stocks were in mixed trend. Japan’s Nikkei extended its previous session losses amid tensions over accelerating spread of the delta variant of the coronavirus, centred around Olympic city Tokyo. The sentiments in the country also dulled followed by the report that the services sector in Japan continued to contract in July, and at a faster rate. Among the Asian stocks, Singapore, South Korea, Hong Kong, Taiwan, Indonesia and China are in positive territory. Bucking the trend, Japan and Malaysia are trading in lower note.

Straits Times up by 29.29 points or 0.93% to 3,178.54, Hang Seng rose by 410.97 points or 1.57% to 26,605.79, Taiwan Weighted enlarged by 48.35 points or 0.28% to 17,602.11, KOSPI higher by 41.99 points or 1.30% t0 3,279.13, Jakarta Composite hiked by 18.22 points 0.30% to 6,148.79, and Shanghai Composite widened by 19.31 points or 0.56% to 3,467.30

On the flip side, , Nikkei 225 down by 80.80 points or 0.29% to 27,556.39 and FTSE Bursa Malaysia KLCI curtailed by $ 12.83 points or 0.86% to 1,487.43.

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