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Asian Markets trade mostly higher in early deals on Wednesday

30 Mar 2022 Evaluate
Most of the Asian equity benchmarks traded higher in early deals on Wednesday, kindled by the increased risk appetite in the market counting on progress over Russian-Ukraine peace talks, decline in corona virus concerns due to its milder symptoms and ease in crude oil prices buoying equity investments. Moreover, technical buying at prevailing levels also lifted the stocks. Chinese stocks led the gains in the session, despite surge in covid positive cases as the new variant reported to have milder symptoms. Shanghai picked up mainly on bargain hunting after previous sharp corrections and on optimism over dovish monetary measures by Chinese Central Bank to stem its economy. Even though, Japanese stocks plunged in the session with the reports of rebounding number of covid cases amidst Cherry blossom Season celebrations. Moreover, inversion in US Bond yields spurred recession fears in the market.

Straight times up by 2.19 points or 0.06% to 3,436.09, Hang Seng rose by 264.65 points or 1.21% to 22,192.28, Taiwan Weighted climbed by 214.83 points or 1.22% to 17,763.49, KOSPI lifted by 3.69 points or 0.13% to 2,744.76, , Jakarta Composite increased by 24.72 points or 0.35% to 7,036.41, Shanghai Composite buoyed by 46.72 points or 1.46% to 3,250.66, and FTSE Bursa Malaysia KLCI higher by 3.41 points or 0.22% to 1,586.83.

Bucking the trend, Nikkei 225 down by 444.99 points or 1.58% to 27,807.43


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