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Asian markets trade mostly higher in early deals on Friday

29 Sep 2023 Evaluate
Most of the Asian markets traded higher in early deals on Friday, lifted by the bargain hunting after previous sessional selloffs amid concerns over protracted interest rates, woes over US economic shut down and global economic growth outlook. Hang Seng is the best gainer among Asian indices after its previous session’s 11- month low hit. The index also got whetted by the positive Wall Street overnight. Stock markets of China, South Korea, and Taiwan are closed for holiday. Bucking the trend Japan’s Nikkei slipped after the country’s mixed economic data. Japanese core inflation rate rose by 2.5%, down from previous month’s 2.8%, while Industrial output fell by 3.8% on a yearly basis.

Straits Times up 16.32 points or 0.51% to 3,223.31, Hang Seng widened 470.10 points or 2.63% to 17,843.13, and Jakarta Composite rose by 23.66 points or 0.34% to 6,961.49.

On the flip side, Nikkei 225 down 118.17 points 0.37% to 31,754.35, and FTSE Bursa Malaysia KLCI pressured 11.20 points or 0.78% to 1,428.91.

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