Asian equity benchmarks traded mixed in early deals on Monday, with the mounting uncertainty over global economic recovery in midst of the continuing surge in novel coronavirus infections and the restrictions and lockdowns imposed in several parts of Asia, specially India and Japan. Lingering high cost in commodities with the inflation worries also dulled the market sentiments. Though, bargain buying in technological and oil shares lifted the sentiments. Japan’s Nikkei retreated from earlier gains in the session in the choppy trade amid caution as the government implemented expanded and extended state of emergency in more area to tackle the fourth wave of coronavirus infections, Taiwan slipped as the country trying to its worst outbreak and avert a full lockdown, While China’s stocks climbed, shrugging off some below-forecast readings on retail sales, industrial output and fixed-asset investment. Among the Asian markets, Japan, Taiwan, South Korea, and Indonesia are in negative note. On the flip side, Hong Kong, Singapore, China and Malaysia are trading higher.
Nikkei 225 down by 351.94 points or 1.25% to 27,732.53, Taiwan Weighted dipped 596.87 points or 3.77% to 15,230.22, KOSPI lower 20.65 points or 0.65% to 3,132.67, and Jakarta Composite decreased by 75.07 points or 1.26% to 5,863.28
Bucking the trend, Straits Times up 5.63 points or 0.18% to 3,060.65, Hang Seng rose by 109.52 points or 0.39% to 28,137.09, Shanghai Composite widened by 35.71 points or 1.02% to 3,526.09, and FTSE Bursa Malaysia KLCI increased by 5.78 points 0.37% to 1,588.30.