Most of the Asian markets traded higher in early deals on Thursday, due to rise in risk appetite after recent correct amid interest rate hike jitters and woes over global economic slowdown. Investor sentiments also got boosted with the optimism over PBoCs affirmation on stronger policy adjustments and implementation to support the economy. Bucking the trend, Japan’s Nikkei dipped with concerns over inflation surge amid soaring oil rates. Meantime, Japanese Prime Minister Fumio Kishida signalled new economic packages by the end of October to alleviate the impact of inflation and stem the economy through increased wages and investments. Stock markets of Indonesia, South Korea and Malaysia are closed for a holiday.
Straits Times up 6.98 narrowed or 0.22% to 3,207.01, Taiwan Weighted lifted 43.28 points or 0.27% to 16,353.64 and Shanghai Composite widened by 3.95 points or 0.13% to 3,111.27.
On the flip side, Nikkei 225 down 572.33 points 1.80% to 31,799.57, and Hang Seng up 182.41 points or 1.05% to 17,429.46.
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