Most markets in Asia were trading higher on Tuesday after South Korea’s inflation reading for August declined to over three-year low, which raised expectation of monetary easing in the country. The consumer price index declined to 2% on an annualised basis, from July’s 2.6%.
The Kospi was trading 12.71 points, or 0.47% higher at 2,693.71. The Nikkei 225 was trading 151.10 points, or 0.39% higher at 38,851.97 as of 06:19 a.m.
Meanwhile, the S&P ASX 200 was trading 23.10 points, or 0.28% down at 8,086.80 as of 06:21 a.m.
US markets were closed on Monday on account of Labour Day.
The November contract of brent crude was trading 0.41% down at $77.20 per barrel as of 06:22 a.m. The spot gold was trading 0.17% lower at 2,495.19
The benchmark stock indices recorded their best closing on Monday, with the NSE Nifty 50 extending gains for the 13th consecutive session—its longest run in decades—and the S&P BSE Sensex rising for the 10th consecutive session.
Nifty closed 42.80 points, or 0.17% higher at 25,278.70, and Sensex closed 194.07 points, or 0.24% up at 82,559.84.
Overseas investors remained net buyers of Indian equities for the third consecutive session on Monday. Foreign portfolio investors mopped up stocks worth Rs 1,735.5 crore while domestic institutional investors turned net buyers after one day of selling and offloaded equities worth Rs 356.4 crore, according to provisional data from the National Stock Exchange.
The Indian currency weakened by 5 paise to close at 83.92 against the US dollar.
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Publish date : 2024-09-02 16:39:00
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