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Asian Markets trade mostly lower in early deals on Thursday

06 Jan 2022 Evaluate
Most of the Asian equity benchmarks traded lower in early deals on Thursday, with the pessimistic note from Wall Street overnight. Japan’s Nikkei plunged in the session extending global rout after US Central’s decision to roll back pandemic-era stimulus quicker than expected. Some of the major losers in the index are M3 Inc with a 7.5% dip and Advantest with a 3% fall. Another notable slump in the session is South Korea’s Kakao Games Corp. with a 13% plunge. Meanwhile, the services sector in Japan continued to expand in December, albeit at a slower pace, the latest survey from Jibun Bank revealed on Thursday with a services PMI score of 52.1. That's down from 53.0 in November, although it remains above the boom-or-bust line of 50 that separates expansion from contraction. The survey also showed that the composite index fell to 52.5 in December from 53.3 in November. Among the Asian stocks, Japan, Hong Kong, Taiwan, Indonesia, South Korea, and Malaysia were in negative trend. Bucking the trend, Singapore is trading lower.

Nikkei 225 tumbled by 789.37 points or 2.69% to 28,542.79, Hang Seng shrunk by 82.65 points or 0.36% to 22,824.60, Taiwan Weighted curtailed by 204.24 points or 1.10% to 18,295.72, Jakarta Composite slipped by 52.62 points or 0.79% to 6,609.68, KOSPI narrowed by 22.56 points or 0.76% to 2,931.41, Shanghai Composite fell by 5.68 points or 0.16% to 3,589.50, and FTSE Bursa Malaysia KLCI lower by 14.46 points or 0.93% to 1,533.49.

On the flip side, Straight times rose by 16.41points or 0.52% to 3,179.85.

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