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Asian Markets trade mostly higher in early deals on Tuesday

16 Nov 2021 Evaluate

Most of the Asian equity benchmarks traded higher in early deals on Tuesday, as the market sentiments got boosted with the news that leaders of the US and China are in a virtual summit, and on some technical buying after previous sessional losses. Meanwhile, focus is also on the impending speeches by a number of Federal Reserve officials which might glean insights on the timing of Fed's roll back of accommodations. Technological shares are slightly higher, while banking sector also gained in the session. Japan’s Nikkei is advancing despite weak cues from global stock indices, as participants eyed on stimulus package and spending plan to revive the economy from the coronavirus pandemic. Among the Asian stocks, Japan, Taiwan, Hong Kong, Indonesia, China and Malaysia are in positive side. Bucking the trend, Singapore and South Korea are trading lower.

Nikkei 225 up by 7.84 points or 0.03% to 29,784.64, Hang Seng rose by 267.13 points or 1.05% to 25,658.04, Jakarta Composite enlarged by 27.99 points or 0.42% to 6,644.02, Taiwan Weighted lifted by 17.09 points or 0.10 to 17,654.67, Shanghai Composite added 10.16 points or 0.29% to 3,543.46, and FTSE Bursa Malaysia KLCI buoyed by 3.39 points or 0.22% to 1,525.73.

On the flip side, Straight times down by 0.28 points or 0.01% to 3,240.30, and KOSPI lower by 5.21 points or 0.17% to 2,994.31.

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