Most of the Asian equity benchmarks traded lower in early deals on Friday, in a choppy trade with the lingering fears over impact of the rapid spread of the delta variant of coronavirus in the region which continues to stifle economic activity. Profit booking after previous session gains also weighed down the sentiments. Technological sectors are in mixed trend, while banking shares gained. Oil stocks are also green after modest gain in crude oil overnight. China’s Shanghai in easing mode with the continued concerns over possible default by property developer Evergrande on an international bond repayment. Japan’s Nikkei is advancing in the session after returning from a holiday, cheered with the positive Wall street overnight. Meanwhile, inflation in Japan was down 0.4% on year in August. Meanwhile, Wall street closed in green with advancement in Nasdaq, Dow and the S&P 500. The major European markets also moved upside in the session. Among the Asian stocks, Singapore, Hong Kong, South Korea, China, and Malaysia are in negative territory. Bucking the trend, Japan, Taiwan and Indonesia are trading higher.
Straight times down by 3.71 points or 0.12% to 3,072.73, Hang Seng slipped by 6.87 points or 0.03% to 24,504.11, KOSPI dipped by 5.22 points or 0.17% to 3,122.36, Shanghai Composite narrowed by 9.84 points or 0.27% to 3,639.39 , and FTSE Bursa Malaysia KLCI curtailed by $6.74 points or 0.44% to 1,532.60.
On the flip side, Nikkei 225 up by 606.18 points or 2.05% to 30,245.58, Taiwan Weighted higher by 161.36 points or 0.94% to 17,239.58, and Jakarta Composite jumped by 0.02 points or 0.001% to 6,142.73.
