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Asian Markets trade mostly lower in early deals on Thursday

12 Aug 2021 Evaluate
Most of the Asian equity benchmarks traded lower in early deals on Thursday, weighed down by the hefty sell off in technical sector shares, surge in oil rates and fears on global economic health amid rapid spread of the delta variant of the coronavirus in the region. However, hopes that Fed might not go for a sudden interest rate hike after the dip in US inflation figures also led to a risk aversion stance in the market, limited some losses. Japan’s Nikkei traded lower on profit booking after four straight session gains. Moreover, accelerating spread on delta variant of the coronavirus, with the country recording 15,812 new virus cases on Wednesday, also dulled the sentiments. Among the Asian stocks, Japan, Hong Kong, South Korea, Taiwan, China and Malaysia are in negative territory. Bucking the trend, Singapore, and Indonesia are trading higher.

Nikkei 225 down by 23.51 points or 0.08% to 28,047.00, Hang Seng diminished by 37.68 points or 0.14% to 26,622.48, Shanghai Composite slipped by 0.88 points or 0.02% to 3,531.74, FTSE Bursa Malaysia KLCI curtailed by $ 2.53 points or 0.17% to 1,501.91, Taiwan Weighted shrunk by 43.00 points or 0.25% to 17,184.18, and KOSPI diminished by 13.56 points or 0.42% to 3,207.06.

On the flip side, Straight times up by 9.68 points or 0.30% to 3,189.68, and Jakarta Composite higher by 33.13 points 0.54% to 6,121.54.

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