Asian equity benchmarks traded mixed in early deals on Friday, on cautiousness ahead to the US Federal Reserve policy meet on November 2-3 which might roll back stimulus measures in midst of surging inflation. Besides, US economy grew at its slowest pace in more than a year accelerated more worries about global economic health. Meanwhile, subdued earnings of tech giants Apple and Amazon as well as policy announcements from the Bank of Canada and the Bank of Japan dulled the market sentiments. Technological stocks are mostly mixed, while banking sector tumbled in the trade. Oil stocks also declined albeit positive crude oil overnight. Japan’s Nikkei rebounded from previous session’s losses as major exports gained in tandem with the positive Wall Street overnight. Among the Asian stocks, Japan, Singapore, Indonesia, and China are trading in green. Bucking the trend, Hong Kong, South Korea, Taiwan and Malaysia traded in downward trend.
Nikkei 225 up by 93.41 points or 0.32% to 28,913.50, Straight times rose by 21.15 points or 0.66% to 3,224.97, Jakarta Composite widened by 44.02 points or 0.67% to 6,568.10, and Shanghai Composite supported by 5.52 points or 0.16% to 3,523.94.
On the flip side, Hang Seng curtailed by 104.18 points or 0.41% to 25,451.55. KOSPI moderately down by 18.58 points or 0.62% to 2,990.97, Taiwan Weighted shrunk by 59.02 points or 0.35% to 16,982.61, and FTSE Bursa Malaysia KLCI lower by 2.89 points or 0.18% to 1,563.97.
