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07-Aug2018

Asian markets trade mostly higher in early deals on Tuesday

Asian markets are trading mostly in green in early deals on Tuesday, following the positive cues from Wall Street amid upbeat corporate earnings results and higher crude oil prices. Nevertheless, investors remained cautious due to worries about the impact of rising US-China trade tensions on global economic growth. China stocks rose as investors snapped up shares hit by recent heavy losses, but an escalating Sino-US trade war and worries over the prospect for domestic growth are likely to continue to dampen sentiments. Meanwhile, the Japanese stock market is advancing following the gains on Wall Street and on a slightly weaker yen. Among the other Asian markets, Hong Kong, Singapore, South Korea and Malaysia are higher. Bucking the trend, Indonesia, and Taiwan are in negative territory.

Nikkei 225 gained 134.62 points or 0.59% to 22,641.60, Hang Seng added 267.46 points or 0.95% to 28,087.02, Straits Times rose 53.01 points or 1.59% to 3,338.35, KOSPI Index increased 4.41 points or 0.19% to 2,290.91, Shanghai Composite spurt 38.55 points or 1.41% to 2,743.71, and FTSE Bursa Malaysia KLCI up by 7.10 points 0.40% to 1,786.85.

On the flip side, Jakarta Composite declined 17.35 points or 0.29% to 6,083.78, and Taiwan Weighted down by 27.51 points or 0.25% to 10,990.91.


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