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Asian markets trade mixed in early deals on Tuesday

14 May 2024 Evaluate
Asian markets traded mixed in early deals on Tuesday, due to cautiousness in the market ahead of US inflation data, which might throw insights on Fed interest rate trajectory. The US PPI is set to be released later on the day, with the CPI following on Wednesday. Investor confidence dulled after reports that China suspended plans to sell $140 billion worth of long-dated bonds aimed at stimulating the economy. Besides, China’s consumer price index rose 0.3% YoY last month, climbing from a 0.1% rise in March. Japan’s Nikkei advanced after corporate inflation in the country steady YoY in April and on weaker local currency yen. Meanwhile, Hang Seng retreated after three prior sessional gains ahead of announcement of US fresh tariffs on some Chinese goods, notably EVs and chips.

Nikkei 225 up by 49.82 points 0.13% to 38,229.28, Taiwan Weighted lifted by 88.59 points or 0.42% to 20,946.30, KOSPI Index rose by 0.80 points or 0.03% to 2,728.01, and FTSE Bursa Malaysia KLCI climbed by 3.12 points or 0.19% to 1,606.03

On the flip side, Straits Times down by 1.94 points 0.06% to 3,301.72, Hang Seng dipped by 25.23 points 0.13% to 19,089.83, Jakarta Composite narrowed by 18.11 points or 0.26% to 7,081.15, and Shanghai Composite declined by 3.87 points or 0.12% to 3,144.15.

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