Most of the Asian equity benchmarks traded higher in early deals on Monday as the market shrugged off risk aversion, amid worries on impact of omicron coronavirus variant over global economic health. Market got buoyed with some technical buying with the previous session’s hefty sell-off. Most of the technological shares are in bullish trend, while financial sector also picked up. Oil stocks were mixed, despite sharp recovery in crude oil rates overnight. Japan’s Nikkei led gains among Asian markets, rebounding after previous session’s virus-induced trip. Nikkei got buoyed with the surge in exports with the softer local currency yen. Among the Asian stocks, Japan, Taiwan, South Korea, China, and Malaysia are in positive mode. Bucking the trend, Singapore, Hong Kong and Indonesia are trading lower.
Nikkei 225 up by 92.98 points or 0.33% to 28,376.90, Taiwan Weighted rose by 144.19 points or 0.83% to 17,472.28, , Jakarta Composite climbed by 27.24 points or 0.41% to 6,635.53, Shanghai Composite jumped by 8.31 points or 0.23% to 3,571.01and FTSE Bursa Malaysia KLCI added by 6.23 points or 0.41% to 1,516.80.
On the flip side, Straight times dipped by 17.53 points or 0.56% to 3,103.05, Hang Seng curtailed by 260.56 points or 1.09% to 23,591.68, KOSPI diminished by 28.69 points or 0.99% to 2,880.63.
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