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Asian markets trade mostly higher in early deals on Tuesday

06 Jun 2023 Evaluate
Most of the Asian markets traded higher in early deals on Tuesday, as the indices regained after most opened lower on profit taking and on risk aversion ahead to US Federal Reserve’s interest hike decision next week. Market sentiments picked up after reports that Chinese government is to introduce a fresh package of measures to assist the property market after existing policies failed to spur an upturn in the ailing sector. Moreover, as per data released services sector growth in China accelerated in May as the post-pandemic recovery continued. Japan’s Nikkei extended gains to fourth straight session, at its highest levels in over three decades kindled by surge in foreign investments to the export-heavy industries and made local assets amid weaker local currency yen.

Nikkei 225 up 210.70 points or 0.66% to 32,428.13, Straight times rose by 1.23 points or 0.04% to 3,190.24, Hang Seng enlarged by 98.13 points or 0.51% to 19,206.63, Taiwan widened by 20.80 points or 0.12% to 16,735.23, KOSPI added by 14.05 points or 0.54% to 2,615.41, Jakarta Composite lifted 29.17 points or 0.44% to 6,662.61 and Shanghai buoyed by 1.54 points or 0.05% to 3,233.98.

On the flip side, FTSE Bursa Malaysia KLCI down by 2.58 points or 0.19% to 1,378.68.

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