Asian markets traded mixed in a thin holiday trade in early deals on Monday, as investors side-lined amid woes over persisting geo-political tensions, surging inflation and on concerns over economic ramifications with the anticipated aggressive Federal Reserve’s interest rate hike. Most of the stock markets are closed today for a public holiday due to Eid al Fitr or Labor Day. Japanese stocks eked some gains as it reopened after a long weekend. Market also digested the downbeat manufacturing data in China as the coronavirus induced lockdowns saddled industrial production in the country. Meanwhile, South Korea’s KOSPI is in negative trend on account of the negative overseas cues on Friday, and on worries over wilting economic growth.
Nikkei 225 up by 47.61 points or 0.18% to 26,895.51, and KOSPI decreased by 8.85 points or 0.33% to 2,686.20.