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Asian markets trade mostly higher in early deals on Tuesday

30 Aug 2022 Evaluate
Most of the Asian markets traded higher in early deals of Tuesday on some technical buying after previous session’s huge correction amid fears over economic ramifications with the continued aggressive Federal Reserve monetary tightening. Japan’s Nikkei advanced despite negative Wall Street overnight. Rise in exports with the weaker local currency yen also supported Japanese market. Meanwhile, Japan’s unemployment rate stood at 2.6% for the third straight month in July and  the availability of jobs rose for the seventh straight month to a more than two-year high, boosting investor sentiments. On the flip side, Chinese stocks fell with the lingering concerns over economic health of the country with divergent monetary policy and broad Sino-US tensions.

Nikkei 225 up by 312.62 points or 1.12% to 28,191.58, Straights times rose 17.45 points or 0.54% to 3,239.71, Taiwan lifted by 43.32 points or 0.29% to 14,969.51, Jakarta Composite climbed by 76.65 points or 1.07% to 7,208.70, and KOSPI added by 21.54 points or 0.89% to 2,448.43, 

Bucking the trend, Hang Seng fell by 179.39 points 0.90% to 19,843.83, Shanghai lower by 18.45 points or 0.57% to 3,222.28, and FTSE Bursa Malaysia KLCI down by 2.47 points or 0.16% to 1,499.10.

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