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Asian Markets trade mostly lower in early deals on Tuesday

28 Sep 2021 Evaluate
Most of the Asian equity benchmarks traded lower in early deals on Tuesday, with the accelerated fears over global economic health with the coronavirus infections in the region and as participants are cautious on developments surrounding debt-laden China Evergrande. Meanwhile, surging bond yields and rising crude oil rates ignited inflationary concerns. Technological shares are wilting, while financial stocks are in mixed trend. Oil stocks advanced with the fifth consecutive gain of crude oil rates. Japan’s Nikkei is easing with the ambiguity about next prime minister after incumbent Yoshihide Suga, and worries over economic health amid covid infections. On the global front, Wall street settled mixed, with  S&P 500 and Nasdaq in negative side and Dow advanced. Meanwhile, the major European markets closed higher. Among the Asian stocks, Japan, Singapore, Indonesia, South Korea and Taiwan are in negative territory. Bucking the trend, Hong Kong, China, and Malaysia are trading higher.

Nikkei 225 down by 113.09 points or 0.37% to 30,126.97, Straight times slipped by 14.83 points or 0.48% to 3,085.47, Jakarta Composite curtailed by 2.60 points or 0.04% to 6,119.90, Taiwan Weighted lower by 149.35 points or 0.86% to 17,164.42, and KOSPI shrunk by 32.15 points or 1.03% to 3,101.49.

On the flip side, , Hang Seng rose by 67.59 points or 1.46% to 24,561.75, Shanghai Composite up by 18.83 points or 0.53% to 3,601.66, and FTSE Bursa Malaysia KLCI buoyed by $6.51 points or 0.42% to 1,539.56.

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