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Wednesday, February 26th, 2020

Asian Markets Mostly Lower

by December 26, 2017 General

(RTTNews) – Asian stock markets, which reopened after the Christmas Day holiday, are mostly lower in thin holiday trade on Tuesday as investors continued to stay on the sidelines amid a lack of fresh catalysts. Crude oil prices edged higher in Asian trades.

The Japanese market is declining in light trading. In late-morning trades, the benchmark Nikkei 225 Index is losing 26.85 points or 0.12 percent to 22,912.33, off a low of 22,908.96 in early trades. The Japanese market recovered from earlier losses to close at a 26-year high on Monday.

The major exporters are lower despite a slightly weaker yen. Mitsubishi Electric is losing 0.7 percent, Panasonic is lower by 0.5 percent, Sony is declining 0.4 percent and Canon is down 0.2 percent.

In the banking sector, Mitsubishi UFJ Financial is down 0.3 percent and Sumitomo Mitsui Financial is losing almost 1 percent. Among automakers, Honda is lower by 0.4 percent and Toyota is declining 0.2 percent.

In the oil space, Inpex is lower by 0.3 percent and Japan Petroleum is down 0.2 percent.

Among the market’s best performers, Takashimaya Co. is rising more than 4 percent, while Eisai Co. and Japan Steel Works are advancing more than 2 percent each.

On the flip side, Sumco Corp. is losing more than 2 percent, Nippon Sheet Glass is down almost 2 percent and Furukawa Electric is lower by more than 1 percent.

In the currency market, the U.S. dollar is trading in the lower 113 yen-range on Tuesday.

Elsewhere in Asia, Singapore, Malaysia and Taiwan are also lower, while South Korea and Shanghai are edging higher. Markets in Australia, New Zealand, Hong Kong and Indonesia continue to remain closed on Tuesday for Christmas holidays.

The U.S. and European markets were closed on Monday for the Christmas Day holiday.