Most of the Asian equity benchmarks traded higher in early deals on Wednesday, with the technical buying after previous sessional losses and on optimism about economic recovery after the July report from US Labour department showed a better than expected employment. Meanwhile, market players are keenly waiting for the comments by US Federal Reserve chairman Jerome Powell for an update on the health of the global economy. Technical share are in mixed trend, while the banking shares are in upward trend. Oil stocks are in mixed trend after lower crude oil rates overnight. Japan’s Nikkei traded in the positive note, rebounding from some losses of previous four sessions, as the exports gained sharply. The benchmark is below the 27,600 mark, despite lingering concerns over the fourth wave of infections in the country and the ongoing state of emergency in majority of areas. On Global front Wall street ended in negative note, with the sharp slide in Dow and the S&P 500. Meanwhile, the major European markets turned in a mixed performance. Among the Asian stocks, Japan, Hong Kong, Singapore, South Korea, Taiwan, and, China and are in upward trend. Bucking the trend, Malaysia are in trading lower.
Nikkei 225 up by 185.94 points or 0.68% to 27,610.41, Straight times rose by 26.83 points or 0.86% to 3,145.34, Hang Seng widened by 180.34 points or 0.70% to 25,926.21, Taiwan Weighted lifted by 34.13 points or 0.20% to 16,695.49, KOSPI buoyed by 24.62 points or 0.78% to 3,167.71, Jakarta Composite higher by 25.22 points 0.41% to 6,113.13, and Shanghai Composite climbed by 19.35 points or 0.56% to 3,466.33.
On the flip side, and FTSE Bursa Malaysia KLCI down by $ 0.30 points or 0.02% to 1,523.29.