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Asian markets trade mixed in early deals on Friday

09 Feb 2024 Evaluate
Asian markets traded mixed in early deals on Friday, with no major market moving cues and as most of the indices are closed for Lunar New Year holidays. Stock markets of Taiwan, Indonesia, South Korea and China are closed for holiday. Japan’s Nikkei advanced to a 34 year hit amidst strong corporate earnings report, a weakening yen and a dovish outlook on Bank of Japan monetary policy. Meanwhile, Hang Seng plunged marking third straight fall. The index is trading for a half day ahead of the Lunar New Year break. Indication of deflationary pressure in China, with consumer prices falling the most in over 14 years while factory gate prices dropped for the 16th month also dulled investor confidence.

Nikkei 225 up by 216.02 points or 0.59% to 37,079.30, and FTSE Bursa Malaysia KLCI rose by 0.41 points or 0.03% to 1,512.77

On the flip side, Straits Times down 9.44 points 0.30% to 3,133.47, and Hang Seng narrowed 134.37 points 0. 85% to 15,743.70.

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