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Asian Markets trade mostly lower in early deals on Tuesday

31 Aug 2021 Evaluate
Most of the Asian equity benchmarks traded lower in early deals on Tuesday, with some profit booking after previous session gains and on continued worries over global economic health with the rapid spike in highly contiguous covid-19 delta variant infections and rising restrictions to contain it. Moreover, caution ahead to US jobs data also weighed some investments. Technological sector stocks are mostly higher, while banking stocks are in negative trend. Oil stocks are in lower note despite higher crude oil rates. Japan’s Nikkei is trading higher rebounding from its early session losses on bargain hunting at prevailing levels. However, investors remained cautious with the continued struggles of the nation to contain the domestic coronavirus infection rates with lot of cities under state of emergency. On the Global front, Wall Street with S&P 500 and Nasdaq ended higher overnight. Dow edged lower. Most of the European markets also moved to the upside. Among the Asian stocks, Singapore, Indonesia, Hong Kong, Taiwan, and China are trading lower. Bucking the trend, Japan, South Korea and Malaysia are in upward trend

Straight times down by 43.78 points or 1.41% to 3,058.33, Hang Seng narrowed by 365.37 points or 1.43% to 25,174.17, Jakarta Composite lower by 19.63 points 0.32% to 6,125.27, Taiwan Weighted dipped by 112.79 points or 0.65% to 17,283.73, Shanghai Composite decreased 26.61 points or 0.75% to 3,501.54 

On the flip side, Nikkei 225 up by 241.82 points or 0.87% to 28,031.11, KOSPI enlarged by 20.01 points or 0.64% to 3,164.20, and FTSE Bursa Malaysia KLCI buoyed by $11.22 points or 0.71% to 1,601.38.

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