Most of the Asian equity benchmarks traded mixed in early deals on Monday, with the market participants braced with the optimism over Russia-Ukraine peace talks next week and US Federal Reserve’s hawkish stance to tackle the soaring inflation, while the concerns over economic ramifications with the lingering covid-19 and the persisting geo-political tensions saddled the investor sentiments. Japanese stocks eased on profit booking after eight consecutive sessional gains, and on uncertainties ov?? geo-political tensions. Shanghai stocks also dipped in the session with the peaking covid-19 cases and the lockdowns to tackle the spread. As per reports, China’s financial hub of 26 million people notified all firms to suspend manufacturing or have people work remotely in a two-stage lockdown over nine days.
Hang Seng up by 278.47 points or 1.30% to 21,683.35, Straight times rose by 12.10 points or 0.35% to 3,425.79, Jakarta Composite added by 26.55 points or 0.38% to 7,029.08 and KOSPI lifted by 5.35 points or 0.20% to 2,735.33
Bucking the trend, Nikkei 225 down by 116.66 points or 0.41% to 28,033.18, Taiwan Weighted dipped by 213.61 points or 1.21% to 17,463.34, Shanghai Composite shrunk by 4.12 points or 0.13% to 3,208.12, and FTSE Bursa Malaysia KLCI lower by 3.90 points or 0.24% to 1,599.40.
