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Asian Markets trade mostly lower in early deals on Tuesday

12 Oct 2021 Evaluate

Most of the Asian equity benchmarks traded lower in early deals on Tuesday, weighed down by the inflation concerns in the market with the acceleration in crude oil rates. Market sentiments also got dampened with the bets surrounding Federal Reserve’s roll back of stimulus measures and on coronavirus situation in the region. Technological sector stocks are trading bearish, while banking sector also experienced hefty sell off. Japan’s Nikkei is in negative trend, snapping fourth straight sessional gain with the negative global cues and on profit booking at prevailing levels. Among the Asian stocks, Japan, Singapore, Hong Kong, China, Taiwan and South Korea are trading lower. Bucking the trend, Indonesia and Malaysia are in green.

Nikkei 225 down by 239.14 points or 0.84% to 28,259.06, Straight times narrowed by 18.81 points or 0.60% to 3,094.68, Hang Seng slipped by 243.36 points or 0.96% to 25,081.73, Shanghai Composite shrunk by 45.35 points or 1.26% to 3,546.36, Taiwan Weighted curtailed by 204.05 points or 1.23% to 16,436.38, and KOSPI diminished by 32.01 points or 1.08% to 2,924.29.

On the flip side, Jakarta Composite was up by 34.89 points or 0.54% to 6,494.59 and FTSE Bursa Malaysia KLCI lifted by 7.94 points or 0.51% to 1,578.76.

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