Asian markets close broadly higher; Kospi ends lower for a change

Chinese mainland markets Shanghai Composite and Shenzhen rallied to make massive gains.

Jan 12, 2021 01:01 IST India Infoline News Service

Asian markets closed broadly higher as investors watched for details of President-elect Joe Biden’s promised economic stimulus plan.

Shanghai, Tokyo and Hong Kong, which account for the bulk of the region’s stock value, rose. Seoul, Sydney and Southeast Asian markets retreated.

Japanese Nikkei 225 which opened on Tuesday after a three-day break, closed 25.31 points higher or 0.09%. Hang Seng traded 1.32% higher while SGX Nifty gained 0.64% during Tuesday's trade.

Chinese mainland markets Shanghai Composite and Shenzhen rallied to make massive gains after Monday's losses. Shanghai closed at 3,608.34 up 76.84 points or 2.18% while Shenzhen ended at 15,460.03 up 344.65 points or 2.28%.

Earlier, Asian markets opened muted with the South Korean Kospi trading marginally lower for a change. Kospi finished 22.50 points or 0.71% lower.

On Monday, US markets fell after five days of unstoppable gains as banks & IT lead indices lower with social media stocks in the firing line as Twitter leads the fall.

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