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Asian markets trade higher in early deals on Thursday

Asian equity benchmarks are trading up in the early deals on Thursday in holiday-thinned trade as they took a lead from the US overnight and shrugged off higher-than-expected consumer prices in the United States. Meanwhile, the Japanese market is notably higher following the overnight gains on Wall Street despite the release of strong-than-expected US inflation data. Investors also shrugged off a stronger yen and weaker-than-expected Japanese core machine orders data. Among the other Asian markets, the markets in Taiwan and China are closed for the Lunar New Year holidays and Hong Kong will close at 12 noon. The markets in South Korea are closed for Seollal Day.

Nikkei 225 rose 350.94 points or 1.66% to 21,505.11, Hang Seng jumped 599.83 points or 1.97% to 31,115.43, Straits Times added 40.65 points or 1.19% to 3,443.51, Jakarta Composite gained 9.9 points or 0.15% to 6,604.31, and FTSE Bursa Malaysia KLCI was up by 3.35 points or 0.18% to 1,838.28.

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