Most of the Asian equity benchmarks traded in red in early deals on Thursday, with the risk aversion in the market followed by the surge of US Consumer Price index by 31 year high rate in the month of October compared to last year same month. Intensified worries over rising wages in the labour market and the supply chain woes raised further concerns over global economic health. Asian indices experienced hefty liquidation of technological and banking sector stocks. Oil stocks also dipped with the negative crude oil rate overnight. MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.85%. Taiwan index leading the loss rate in Asian market today, with its profit taking after four straight sessional gains. Japan’s Nikkei rebounded after four consecutive losses, albiet the country’s producer price index in October marched to a 40 year high rate. Among the Asian stocks, Singapore, South Korea, Hong Kong, Indonesia, Taiwan and Malaysia are in trading lower. Bucking the trend, Japan, and China are trading in positive side.
Straight times down by 5.37 points or 0.17% to 3,225.95, Hang Seng narrowed by 37.86 points or 0.15% to 24,958.28, Taiwan Weighted curtailed by 124.76 points or 0.71% to 17,434.89, KOSPI lower by 16.55 points or 0.56% to 2,913.62, Jakarta Composite slipped by 2.55 points or 0.04% to 6,680.60, and FTSE Bursa Malaysia KLCI shrunk by 1.12 points or 0.07% to 1,519.62.
On the flip side, , Nikkei 225 up by 154.71 points or 0.53% to 29,261.49 and Shanghai Composite rose by 20.69 points or 0.59% to 3,513.15.