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Asian Markets trade mostly higher in early deals of Tuesday

08 Feb 2022 Evaluate
Most of the Asian Markets traded higher in early deals of Tuesday, due to increased risk appetite in the market as the Covid woes got trivialized with the reports on steady declines in the daily new cases. Meanwhile, market is closely watching impending US inflation data due today to gauge on US Federal Reserve’s interest rate hike and put an end of its pandemic-driven bond buying programme. Japanese stocks rebounded from previous sessional loss, as the investors are on bargain hunting after monthly low hits in most of the stocks in midst of rampant spread of coronavirus omicron variant cases. The country marked a rise in exports by  18/7 % on year at 7.797 trillion yen, while imports surged an annual 44.8 percent to 8.115 trillion yen for a trade deficit of 318.7 billion yen. While it posted a current account deficit of 370.8 billion yen in December, missing expectations for a surplus of 73.5 billion yen following the 897.3 billion yen surplus in November. Straights of Singapore extended its winning streak to third straight session amid robust corporate earnings and rally in tech stocks. 

Nikkei 225 up by 70.45 points or 0.26% to 27,319.32, Straight times rose by 21.49 points or 0.64% to 3,387.97, Taiwan lifted by 139.19 points or 0.78% to 18,039.49, KOSPI grew by 1.41 points or 0.05% to 2,746.47 and FTSE Bursa Malaysia KLCI higher by 2.21 points or 0.14% to 1,532.86.

Bucking the trend, Hang Seng dipped by 402.11 points or 1.64% to 24,177.44, Jakarta Composite down by 9.47 points or 0.14% to 6,795.47, and Shanghai shrunk by 36.51 points or 1.06% to 3,393.07.

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