Asian markets traded mixed in early deals on Tuesday, due to woes over global economic slowdown, amid persisting intensified inflation rates, sharper interest rate hikes and lingering geo-political tensions. However, technical buying after recent sharp corrections amid perceptions of overdone selling lifted some buying. Japan’s Nikkei rebounded in the session after marking two-month low rate and on optimistic comments by Bank of Japan Governor Haruhiko Kuroda on continued support of the central Bank to stem the economy. On the flip side, Hang Seng dipped for fifth consecutive session mirroring negative Wall Street overnight and on concerns over downgraded economic growth projections by the World Bank.
Nikkei 225 rose by 134.32 points or 0.51% to 26,565.87, Taiwan up by 30.98 points or 0.22% to 13,809.17, Shanghai lifted by 7.98 points or 0.26% to 3,059.21, and FTSE Bursa Malaysia KLCI added 0.20 points or 0.01% to 1,413.24
Bucking the trend, Hang Seng plunged by 189.29 points or 1.06% to 17,665.85, , Straights times curtailed 18.25 points or 0.57% to 3,163.72, KOSPI narrowed by 13.80 points or 0.62% to 2,207.14, and Jakarta Composite declined by 34.77 points or 0.49% to 7,092.73.
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