Most of Asian equity benchmarks traded higher in early deals on Tuesday, whetted by the optimism about speedier global economic recovery with the surging government bond yields and as traffic in Suez Canal resumes. However, weaker cues from Wall Street overnight, rise in new covid-19 cases in the US and lockdown measures in Europe capped some gains in the market. Japan’s Nikkei rebounded after opening lower in the session. Even though gains were limited with higher unemployment rate and surge in number of covid cases in the country. Among the Asian markets, Japan, Singapore, Hong Kong, South Korea, Taiwan, and China are in higher note. Bucking the trend, Indonesia and Malaysia is decreasing.
Nikkei 225 up by 16.37 points or 0.06% to 29,400.89, Straits Times increased 22.09 points or 0.70% to 3,197.66, Hang Seng rose by 334.46 points or 1.18% to 28,672.76, Taiwan Weighted widened 20.11 points or 0.12% to 16,496.08, KOSPI Index lifted by 33.73 points or 1.11% to 3,069.77, Shanghai Composite enlarged by 20.14 points or 0.59% to 3,455.44
On the flip side, Jakarta Composite lower by 69.68 points or 1.13% to 6,097.14 and FTSE Bursa Malaysia KLCI down by 2.96 points 0.18% to 1,608.32.