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Asian Markets trade mostly lower in early deals on Thursday

21 Oct 2021 Evaluate

Most of the Asian equity benchmarks traded lower in early deals on Thursday, saddled by the concerns that the ongoing supply chain chaos with the tight labor market is hitting the global economic health. Meanwhile, the ongoing supply disruptions are lifting the rates of the commodities pointing to persistent inflation. The outlook of China’s property sector also dulled the market sentiments. The technical stocks are in mixed trend, while banking stocks are dismal in the session. Japan’s Nikkei retreated from previous sessional gains due to some profit booking at prevailing levels and on cautious outlook with the upcoming elections and parties clashing over key economic issues and handling of the coronavirus pandemic. Besides, the major European markets finished higher in the session. Among the Asian stocks, Japan, Hong Kong, Singapore, South Korea, Indonesia and Malaysia are trading in red. Bucking the trend, Taiwan and China are in positive territory.

Nikkei 225 down by 447.76 points or 1.53% to 28,807.79, Straight times dipped by 0.36 points or 0.01% to 3,197.72, Hang Seng narrowed by 75.76 points or 0.29% to 26,060.26, KOSPI curtailed by 1.84 points or 0.06% to 3,011.29, Jakarta Composite is slipped by 3.92 points or 0.06% to 6,652.08, and FTSE Bursa Malaysia KLCI shrunk by 7.24 points or 0.45% to 1,599.08.

On the flip side, Taiwan Weighted up by 6.22 points or 0.04% to 16,894.04, and Shanghai Composite climbed by 16.62 points or 0.46% to 3,603.62.

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