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Asian Markets trade mostly higher in early deals on Tuesday

24 Aug 2021 Evaluate
Most of the Asian equity benchmarks traded higher in early deals on Tuesday, with the optimism after the news on full approval granted to the Pfizer/BioNTech vaccine and on easing worries of an imminent tapering of stimulus by the Federal Reserve. Positive trend in commodities and some technical buying at prevailing lower rates also supported the market sentiments. Firm tend in technological sector stocks significantly added upward momentum in the market, while financial stocks are in mixed trend. Oil stocks are rising after crude oil rebounded from seven day straight losses. Japan’s Nikkei added previous sessional gains shrugging off worries over stalled economic activities with the spiking domestic coronavirus infection rates, and on high restrictions to contain it.. Meanwhile, Wall Street closed on a higher note, with the advancement in Dow, S&P 500, and Nasdaq. The major European markets also climbed overnight. Among the Asian stocks, Japan, Singapore, Hong Kong, South Korea, Taiwan, China and Malaysia are trading higher. Bucking the trend, Indonesia is in downward trend.

Nikkei 225 up by 269.31 points or 0.98% to 27,763.55, Straight times rose by 22.10 points or 0.72% to 3,109.66, Hang Seng higher by 416.42 points or 1.66% to 25,526.01, Taiwan Weighted lifted by 65.26 points or 0.39% to 16,807.10, KOSPI widened by 45.69 points or 1.48% to 3,135.90, Shanghai Composite increased 34.84 points or 1.00% to 3,511.97, and FTSE Bursa Malaysia KLCI buoyed by $20.91 points or 1.37% to 1,543.34.

On the flip side, Jakarta Composite down by 24.00 points 0.39% to 6,085.83.








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