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Asian Markets trade mostly lower in early deals on Thursday

28 Oct 2021 Evaluate
Most of the Asian equity benchmarks traded lower in early deals on Thursday, with the risk aversion in the global markets in midst of global economic growth woes with the intensified inflation factors and chances for a tighter monetary policy.  The key European Central Bank policy meeting is due today, while the US Federal Reserve’s key decision is on November 3. Further, wilting oil rates, stifle economic activity with the looming covid-19 situation, and elevated America-China tensions over Taiwan also saddled equity market. Technological shares are mixed for the day, while banking stocks are in red. Japan’s Nikkei extended previous session’s losses encumbered by the caution ahead of the monetary policy announcements from the Bank of Japan later in the day and as the general elections due this weekend. Among the Asian stocks, Japan, Hong Kong South Korea, Indonesia, China, Singapore and Malaysia are trading in red. Bucking the trend, Taiwan is in positive territory.

Nikkei 225 down by 245.47 points or 0.84% to 28,852.77, Straight times dipped by 12.58 points or 0.39% to 3,205.59, Hang Seng curtailed by 23.93 points or 0.09% to 25,604.81, Jakarta Composite narrowed by 67.13 points or 1.02% to 6,535.08, Taiwan Weighted shrunk by 72.30 points or 0.42% to 17,002.25, and Shanghai Composite dropped by 33.31 points or 0.94% to 3,529.00 and FTSE Bursa Malaysia KLCI lower by 11.46 points or 0.72% to 1,571.62.

On the flip side, KOSPI up by 5.63 points or 0.19% to 3,031.12. 

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