Most of the Asian equity benchmarks traded in red in early deals on Friday, weighed down by the still lingering worries over peaking spread of the delta variant of the coronavirus around the globe. Profit selling after previous day gain also dulled the risk appetite. Oil stocks are trading mixed, although crude oil rates finished higher overnight. However, positive trend in Wall Street overnight limited some losses. Japanese stock market is closed for a long weekend on Thursday and Friday for public holidays. Chinese tech shares in Hong Kong plunged as regulatory fears resurfaced. Among the Asian stocks, Singapore, Indonesia, Hong Kong, Taiwan, China and Malaysia are in negative trend. Bucking the trend South Korea in positive territory.
Straits Times down by 6.27 points or 0.20% to 3,152.99, Hang Seng slipped by 275.61 points or 0.99% to 27,448.23, Taiwan Weighted lower by 8.16 points or 0.05% to 17,564.17, Jakarta Composite narrowed by 43.41 points 0.71% to 6,094.14, Shanghai Composite curtailed by 23.18 points or 0.65% to 3,551.55, and FTSE Bursa Malaysia KLCI dipped 3.52 points or 0.23% to 1,524.10
On the flip side, KOSPI up 2.41 points or 0.07% to 3,252.62.