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Asian Markets trade mostly lower in early deals on Tuesday

11 Jan 2022 Evaluate
Most of the Asian equity benchmarks traded lower in early deals on Tuesday, with the risk aversion in the market with the lingering concerns over economic health in midst of accelerated spread of Covid-19. Weakness in crude oil rates and caution ahead to inflation data release weighed on investor sentiments. Japan’s Nikkei which reopened after a holiday retreated in wake of extended border controls to stave off the rapid spread of the omicron coronavirus variant. Japanese electronics manufacturers and chipmakers led the declines. Major losers include Keyence with a dip of 6.9% and Mitsui High Tec with a decline of 5.6%. Among the Asian stocks, Japan, South Korea, Indonesia, and Taiwan were in negative note. Bucking the trend, Singapore, Hong Kong and Malaysia are trading higher.

Nikkei 225 down by 243.21 points or 0.85% to 28,235.35, KOSPI dipped by 1.92 points or 0.07% to 2,924.80, Taiwan Weighted declined by 31.09 points or 0.17% to 18,208.29, Jakarta Composite diminished by 17.07 points or 0.26% to 6,674.05, and Shanghai Composite narrowed by 2.70 points or 0.08% to 3,590.82 

On the flip side, Straight times lifted by 13.84 points or 0.43% to 3,240.89, Hang Seng rose by 87.03 points or 0.37% to 23,833.57, and FTSE Bursa Malaysia KLCI higher by 4.12 points or 0.27% to 1,554.29.

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