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09-May2018

Asian markets pare early losses to trade mostly in green

Asian markets started on a pessimistic note following the flat lead overnight from Wall Street after U.S. President Donald Trump announced the U.S. would formally withdraw from Iran's nuclear deal. But, most of the bourses pared their early losses and entered into green terrain at this point of time, as traders opted to buy beaten down but fundamentally strong stocks. Japanese Nikkei edged lower as traders remained on sidelines ahead of release of preliminary March figures for its leading and coincident indexes as well as March figures for real and labor cash earnings. Among other Asian markets, Shanghai, Malaysia, Taiwan, Jakarta and Hong Kong are higher. Bucking the trend, South Korea is lower. 

Shanghai Composite gained 1.75 points or 0.06% to 3,163.25, FTSE Bursa Malaysia KLCI surged 18.31 points or 1% to 1,846.51, Taiwan Weighted increased 28.45 points or 0.27% to 10,719.83, Jakarta Composite gained 45.64 points or 0.79% to 5,820.36 and Hang Seng was up by 122.38 points or 0.4% to 30,525.19.

On the flip side, Nikkei 225 declined 102.32 points or 0.45% to 22,406.37 and KOSPI Index was down by 6.22 points or 0.25% to 2,443.59.



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