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Asian markets trade in fine fettle in early deals

28 May 2013 Evaluate

Most of the Asian equity indices are trading in green in Tuesday’s morning trade with Japanese Nikkei surging over a percent, regaining stability following extreme volatility in recent days, as some investors picked up battered stocks, including blue-chips Toyota Motor Corp and Sony Corp. Sentiment, however, remained fragile after last week’s turbulent trade raised doubt about the sustainability of the remarkable bull-run that has taken the index to five and a half year high. Meanwhile, Seoul shares opened slightly higher, supported by gains in automakers and shipbuilding firms such as Hyundai Mobis and Daewoo Shipbuilding & Marine Engineering.

Shanghai Composite rose 3.38 points or 0.15% to 2,296.46, Hang Seng increased 31.81 points or 0.14% to 22,717.86, Jakarta Composite surged 48.37 points or 0.95% to 5,133.50, KLSE Composite added 8.47 points or 0.48% to 1,775.60, Nikkei 225 soared 161.58 points or 1.14% to 14,304.23, Straits Times jumped 7.97 points or 0.24% to 3,399.27 and KOSPI Composite was up by 8.59 points or 0.43% to 1,988.56.

On the flip side, Taiwan Weighted was down by 9.41 points or 0.11% to 8,270.69.

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