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Asian Markets trade mostly higher in early deals on Tuesday

19 Oct 2021 Evaluate
Most of the Asian equity benchmarks traded higher in early deals on Tuesday, kindled by the increased risk appetite in the market with the soaring crude oil rates and better than anticipated US home builder confidence in October. Meanwhile, the market awaited for today’s US corporate results which will glean insights on how companies are coping with supply disruptions and the past quarter's rapid rise in coronavirus infections. Technological sector stocks experienced a huge buying, while banking sector was mixed. Japan’s Nikkei rebounded from last sessional loss as the nation gears up to boost its economic activity, even though the prospects of another wave of coronavirus infections looms. MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.99% higher. Markets in Malaysia is closed for holiday. Among the Asian stocks, Japan, Singapore, Hong Kong, South Korea, Taiwan and China are trading higher. Bucking the trend, Indonesia is in negative territory.

Nikkei 225 up by 161.64 points or 0.56% to 29,187.10, Straight times rose by 15.40 points or 0.49% to 3,189.22, Hang Seng accelerated by 298.77 points or 1.18% to 25,708.52, KOSPI lifted by 20.93 points or 0.70% to 3,027.61, Taiwan Weighted buoyed by 189.17 points or 1.13% to 16,894.63 and Shanghai Composite climbed by 25.09 points or 0.70% to 3,593.23.

On the flip side, Jakarta Composite is down by 30.09 points or 0.45% to 6,628.68.



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