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Asian Markets trade mostly higher in early deals on Wednesday

08 Dec 2021 Evaluate
Most of the Asian equity benchmarks traded higher in early deals on Wednesday, lifted by some technical buying at prevailing levels as the concerns about the impact of the Omicron variant on global economic recovery diminished. Moreover, the market sentiments got boosted with the rising expectations that US Federal Reserve would tame inflationary pressure by doubling the pace of its taper to $30 billion a month. Technological, and financial stocks are advancing in the session with hefty buying. Oil shares is also in upward trend with the positive crude oil prices overnight. Japan’s Nikkei extended its previous sessional gains in tandem with firm trend overseas. Major exporters in the country was higher with a weaker yen. Chugai Pharmaceutical led gains surging more than 6 percent. Among the Asian stocks, Japan, South Korea, Taiwan, China, Indonesia, are in positive territory. Bucking the trend, Hong Kong, Singapore, and Malaysia are trading down.

Nikkei 225 up by 414.67 points or 1.46% to 28,870.27, KOSPI buoyed by 27.49 points or 0.92% to 3,019.21, Taiwan Weighted rose by 75.89 points or 0.43% to 17,872.8, Jakarta Composite enlarged by 15.59 points or 0.24% to 6,618.16 and Shanghai Composite climbed by 31.02 points or 0.86% to 3,626.11, and 

On the flip side, Hang Seng down by 28.75 points or 0.12% to 23,954.91, Straight times dipped by 7.92 points or 0.25% to 3,126.74, and FTSE Bursa Malaysia KLCI lower by 1.91 points or 0.13% to 1,496.06.

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