Asian markets close broadly lower; Nikkei ends with gains

Chinese stocks ended lower to continue the lukewarm trade reopening after the Lunar holidays. Hang Seng slid 1% while SGX Nifty shed 2%.

Feb 22, 2021 02:02 IST India Infoline News Service

Stocks markets in Asia have take a horrible beating this year and lost as much $6.2trillion.
Major Asian markets with the exception of Japan ended lower on Monday amid stimulus optimism tempered by inflation concerns and following uncertain cues from Wall Street Friday.

On Friday, US markets ended the week flat as Dow Jones closes unchanged on Friday while Nasdaq ended the session up 0.5%. Asian markets opened in the green led by the Japanese Nikkei which hit a 30 year high as weaker US$ & spurt in yields boosted financials as Japanese gas stocks saw the best rally for the year with energy & commodity stocks leading. Nikkei closed 138.11 points higher at 30,156.03 on Monday.

Taiwan stocks also saw gaining, trading near fresh all-time highs early on as economic data beat street estimates with 5% growth for the quarter. Taiwan market closed 68.78 points higher. Market in Jakarta also traded marginally higher.

Chinese stocks continued the lukewarm trade reopening after the Lunar holidays. Shanghai Composite slid 1.45% while Shenzhen shed over 3% on Monday.

Korean Kospi closed 0.9% lower while Australian ASX 200 also ended 0.19% in the red. Hang Seng declined over 1% while SGX Nifty shed over 2%.

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