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Asian Markets trade mostly lower in early deals on Tuesday

17 Aug 2021 Evaluate
Most of the Asian equity benchmarks traded lower in early deals on Tuesday, pressured by the fears over accelerating spread of covid infections and on resultant restrictions in several countries which might weigh down the speed of global economic rebound. Meanwhile, the market participants are keenly awaiting for the minutes from the US Fed's latest meeting for cues on the economic outlook. Oil shares are trading in lower note after last night’s sharp correction. Technological shares are experiencing hefty sell off and banking shares are also in negative trend. China’s Shanghai is red, extending losses to the third straight session, as the market sentiments got dulled with the weaker than expected economic data, while Japan’s Nikkei rebounded after three consecutive sessional losses after some better than expected earnings reports and on some bargain buying at prevailing levels. However gains remained trimmed with the cautiousness with more prefectures under the state of emergency and experts calling for expanding it to the whole country, as coronavirus's delta variant infections remain at record levels. On Global front, Wall Street was in mixed trend, while Dow and the S&P 500 settled positive overnight, and the Nasdaq closed in the red. Stock market of Indonesia is closed for Independence Day holiday. Among the Asian stocks, Hong Kong, Singapore, South Korea, Taiwan, and, China and are in down ward trend. Bucking the trend, Japan and Malaysia are in positive territory.

Straight times down by 18.34 points or 0.58% to 3,127.18, Hang Seng diminished by 173.82 points or 0.66% to 26,007.64, Taiwan Weighted curtailed by 115.80 points or 0.69% to 16,742.97, KOSPI dipped by 25.31 points or 0.80% to 3,145.98 and Shanghai Composite narrowed by 16.91 points or 0.48% to 3,500.43. 

On the flip side, Nikkei 225 up by 20.67 points or 0.08% to 27,546.14, and FTSE Bursa Malaysia KLCI rose by $15.27 points or 1.02% to 1,518.17.

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