Asian markets closed mostly higher on Thursday as investors hope for Covid-19 vaccine rises along with monetary stimulus under Joe Biden's presidency. This further offset the weak US economic data.
The Asian markets opened in the green led by the Japanese Nikkei which traded higher by 100 points as it hit fresh new 2 year highs.
The last eight months have seen stellar performance for most Asian markets with the Japanese Nikkei 225 in large caps & South Korean 'Kospi' in small caps leading the gainers.
Nikkei closed at 240.45 points higher or 0.91% while Kospi traded 0.94% higher. Hong Kong’s Hang Seng rose 0.35%. SGX Nifty also shed early losses to trade marginally higher.
Chinese stocks ducked the global rally and has been witnessing profit booking. On Thursday, Shanghai Composite (0.22%) and Set Composite (0.76%) both traded in the green.
US markets ended mixed on Wednesday with Dow Jones seeing profit booking & closing lower by 175 points while Nasdaq sees smart gains & closes higher by 60 points. U.S. markets will be closed Thursday for the Thanksgiving holiday. They will be open for half the day on Friday.
Oil prices see best month to date in over 8 months. At around 12.58 pm, benchmark oil brent crude was trading flat at USD 48.61 per barrell.
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