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Asian markets trade mostly higher in early deals on Tuesday

31 May 2022 Evaluate
Asian markets traded mostly higher in early deals on Tuesday, as the market sentiments got kindled by the news that China is trimming Covid-19 restrictions in its major cities Beijing and Shanghai over the weekend, and government’s affirmation to inject more stimulus to support the economy. While, investors closely eyed this week’s major US data which includes the ISM survey of manufacturing, for more cues on economic health. However, Japan’s Nikkei retreated in the session booking profits after benchmark indexes touched their highest in more than a month on Monday. The lingering supply chain chaos and peaking commodity rates also weighed investments.

Straight times rose 17.75 points or 0.55% to 3,256.67, Hang Seng increased by 152.82 points or 0.72% to 21,276.75, KOSPI climbed by 13.87 points or 0.52% to 2,683.53, Taiwan lifted by 17.88 points or 0.11% to 16,628.50, Jakarta Composite buoyed by 45.53 points or 0.65% to 7,083.10, and Shanghai higher by 28.56 points or 0.91% to 3,177.62.

Bucking the trend, Nikkei 225 down by 62.38 points or 0.23% to 27,307.05, and FTSE Bursa Malaysia KLCI dipped by 1.49 points or 0.10% to 1,541.53.

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