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Asian markets trade mixed in early deals on Thursday

02 Mar 2023 Evaluate
Asian markets traded mixed in early deals on Thursday, as the market players side-lined amid growing fears about global economic health and interest rate outlook followed by the recent manufacturing data. Moreover, profit taking after previous sessional gains also pressured the indices. Japan’s Nikkei edged lower in tandem with the weak trend in Wall Street overnight. Meanwhile, the monetary base in Japan dipped by 1.6% on year in February, as against projected 3.2% fall, added concerns. Albeit, reports that Japanese companies increased spending on plant and equipment by 7.7% YoY in the Q4 of 2022, limited losses.

Nikkei down by 6.32 points or 0.02% to 27,510.21, Straight times lower by 18.23 points or 0.56% to 3,236.85, Hang Seng dipped by 83.18 points or 0.41% to 20,536.53, and Taiwan curtailed by 1.78 points or 0.01% to 15,596.71.

On the flip side, KOSPI lifted by 21.39 points or 0.89% to 2,434.24, Jakarta Composite enlarged by 20.19 points or 0.29% to 6,865.13, Shanghai buoyed 5.91 points or 0.18% to 3,318.26, and FTSE Bursa Malaysia KLCI up by 2.42 points or 0.17% to 1,452.62.

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