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Asian markets end mostly higher on Wednesday

22 Jun 2016 Evaluate

Asian equity markets ended mostly higher on Wednesday, as investors remained wary ahead of the vote on Britain's possible exit from the European Union. Chinese shares ended higher, as Federal Reserve Chair Janet Yellen played down the risk of a US recession in her testimony before Congress and the People's Bank of China said it would allow qualified foreign companies to issue shares on the mainland. However, Japanese shares lost ground with the dollar's weakness following cautious comments by Yellen on Capitol Hill dented the outlook for exporters' profitability. Yellen said a cautious approach on interest rates remains appropriate amid considerable uncertainty about the economic outlook. Yellen suggested that the Fed will need to see an improvement in the labor market before considering another rate hike.

Asian Indices

Last Trade            

Change in Points

Change in %  

Shanghai Composite

2,905.03 26.480.92

Hang Seng

20,795.12 126.680.61

Jakarta Composite

4,891.33 12.620.26

KLSE Composite

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Nikkei 225

16,065.72 -103.39-0.64

Straits Times

2,794.33 4.880.17

KOSPI Composite

1,992.58 9.880.50

Taiwan Weighted

8,716.25 31.400.36
 

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MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

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