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Asian markets trade mostly higher in early deals on Tuesday

01 Nov 2022 Evaluate
Most of the Asian markets traded higher in early deals of Tuesday, whetted by the rise in risk appetite with the bets over Federal Reserve curtailing interest rate hike pace. The Federal Reserve decision which is to be held this week, is been closely watched for additional clues on the economic and rate outlook. Japan’s Nikkei extended previous sessional gain, marking highest levels in six weeks supported by the upbeat corporate earnings results. Shanghai also rallied in the session followed by optimism as Beijing implemented a series of policies to stabilize prices, which helped to offset the impact of imported inflation.

Nikkei 225 up by 31.87 points or 0.12% to 27,619.33, Straight times enlarged 32.25 points or 1.04% to 3,125.36, Hang Seng increased by 346.26 points or 2.36% to 15,033.28, Taiwan higher by 56.60 points or 0.44% to 13,006.35, KOSPI rose by 27.63 points or 1.20% to 2,321.24, and Shanghai climbed by 24.80 points or 0.86% to 2,918.28.

On flip side, Jakarta Composite down by 46.24 points or 0.65% to 7,052.65 and FTSE Bursa Malaysia KLCI diminished by 14.92 points or 1.02% to 1,445.46.     

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