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Asian Markets trade mostly higher in early deals on Thursday

30 Sep 2021 Evaluate
Most of the Asian equity benchmarks traded lower in early deals on Thursday, as the participants gained momentum with the receding concerns over the debt laden Chinese property giant Evergrande after it reported plans to settle debt with a Chinese bank. Bargain hunting after previous sessional losses also kindled equity market. Japan’s Nikkei extended its losing streak to fourth consecutive session with the uncertainty over economic growth  as the Nation is set to emerge from six months of pandemic restrictions that has battered the economy, and as nation’s Industrial Output fell sharply in month of August. China’s Shanghai  rebounded amid optimism over economic rebound followed by the upbeat data on service activity of China in September. On the global front, Wall street ended mixed as Dow and the S&P 500 rose in the session, while the Nasdaq retreated. The major European markets moved to the upside on the day. Among the Asian stocks, Singapore, Indonesia, South Korea Taiwan, and China are trading in green. Bucking the trend, Japan, Hong Kong and Malaysia are in negative territory.

Straight times up by 17.92 points or 0.58% to 3,092.23, Jakarta Composite rose by 63.40 points or 1.03% to 6,225.95, Shanghai Composite lifted by 28.66 points or 0.81% to 3,564.95, Taiwan Weighted higher by 79.31 points or 0.47% to 16,934.77, and KOSPI added by 13.17 points or 0.43% to 3,073.44, 

On the flip side, Nikkei 225 down by 91.63 points or 0.31% to 29,452.66, Hang Seng rose by 150.38 points or 0.61% to 24,513.12, and FTSE Bursa Malaysia KLCI fell by 3.63 points or 0.23% to 1,544.02.

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