Asian markets traded mostly higher in early deals on Thursday, kindled by the bets over Federal Reserve interest rate cuts by June despite hotter than expected US inflation. Meanwhile participants keenly eyed on US producer inflation, retail sales and weekly jobless claims figures due on Thursday for more cues on interest rate outlook. Japan’s Nikkei rebounded after three straight slides on bargain hunting at prevailing levels. Besides, softer local currency yen also encouraged foreign investments.
Nikkei 225 up by 86.58 points or 0.22% to 38,782.55, Straits Times rose 24.36 points or 0.77% to 3,185.08, KOSPI Index added 22.10 points or 0.82% to 2,715.67, Jakarta Composite buoyed by 5.46 points or 0.07% to 7,426.67, Shanghai Composite enlarged by 2.94 points or 0.10% to 3,046.77, and FTSE Bursa Malaysia KLCI higher by 0.87 points or 0.06% to 1,539.00.
On the flip side, and Hang Seng down by 98.89 points or 0.58% to 16,983.22, and Taiwan Weighted dipped 37.39 points or 0.19% to 19,891.12.
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