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Asian markets trade in red in early deals on Thursday

All of the Asian markets are trading in red in early deals on Thursday despite a strong day on Wall Street that was spurred by encouraging signs on US hiring and growth in the service sector. Meanwhile, the Japanese market slipped into negative territory after opening higher following the overnight gains on Wall Street and on a weaker yen. Investors are cautious after the surge in US Treasury yields. The markets in China will remain closed all week for the National Day holiday.

Nikkei 225 dropped 33.92 points or 0.14% to 24,077.04, Hang Seng slipped 456.25 points or 1.71% to 26,635.01, Straits Times contracted 31.80 points or 0.98% to 3,235.60 and Jakarta Composite declined 95.03 points or 1.65% to 5,772.71, Taiwan Weighted dipped 140.27 points or 1.31% to 10,723.67, KOSPI tumbled 34.87 points or 1.53% to 2,274.70, and FTSE Bursa Malaysia KLCI down by 4.37 points or 0.24% to 1,791.93.

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