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Asian Markets trade mixed in early deals on Thursday

05 Dec 2024 Evaluate
Asian Markets traded mixed in early deals on Thursday, due to risk aversion with the global geopolitical concerns, including political turmoil in South Korea and France, the Russo-Ukrainian war, and Israel's threat of war with Lebanon if its truce with Hezbollah collapses. Participants also side-lined with the potential trade war between China and the US, spurred by tech sanctions from the Biden administration and tariff threats from newly elected President Trump. Moreover, sluggish China's services activity for November and slower than expected US private sector employment data also dulled investments. Albeit, bets on prospects of Fed interest rate cut, strong corporate earnings and optimism surrounding the artificial intelligence boom, pared some losses in the session. 

Nikkei 225 up by 137.81 points or 0.35% to 39,414.20, Straight times rose 25.79 points or 0.68% to 3,825.73, Taiwan lifted by 19.55 points or 0.08% to 23,274.88, and Shanghai added by 7.03 points or 0.21% to 3,371.68, 

On flip side, Hang Seng down by 200.13 points or 1.01% to 19,542.33, KOSPI dipped by 14.18 points or 0.58% to 2,449.82, Jakarta Composite dulled by 32.80 points or 0.45% to 7,293.96, and FTSE Bursa Malaysia KLCI lower by 0.68 points or 0.04% to 1,613.41.

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