Most of the Asian equity benchmarks traded higher in early deals on Tuesday, is near the month high level on optimism over economic recovery ahead to the release of US jobs report this week. Factory activity of China for May posted a sharp hike, however steep rise in raw material rates and curtailed supplies weighed on production of some companies. Japan’s Nikkei extended losses from its previous session amid new measures by the government to contain fresh outbreaks. The country is experiencing fourth wave of coronavirus infections with the state of emergency extended for three weeks until June 20 for more than 40 percent of Japan's population. Stock market of and Indonesia is closed for a holiday. Among the Asian markets, Singapore, Hong Kong, Taiwan and South Korea are in positive territory. On the flip side, Japan, China and Malaysia are trading lower.
Straits Times up 2.67 points or 0.08% 3,166.95, Hang Seng higher by 123.97 points or 0.43% to 29,275.77, Taiwan Weighted lifted by 44.05 points or 0.26% to 17,112.48, and KOSPI widened 12.95 points or 0.40% to 3,216.87.
Bucking the trend, Nikkei 225 down by 108.00 points or 0.37% to 28,752.08, Shanghai Composite slipped by 4.15 points or 0.11% to 3,611.33 and FTSE Bursa Malaysia KLCI narrowed by 2.70 points 0.17% to 1,580.85.