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Asian markets trade lower in early deals on Friday

24 Jun 2016 Evaluate

Asian equity benchmarks are trading lower in the early deals on Friday as early results from Britain's historic European Union referendum suggested a stronger than expected performance by the 'Leave' campaign. The results unnerved investors and sent them rushing to safe-haven assets. Crude oil prices tumbled in Asian trades. Meanwhile, Japanese shares slumped, with the Topix index falling the most in five years, as results from the UK referendum on European Union membership pointed toward a vote to leave. The safe-haven yen strengthened against the US dollar and weighed on exporters' shares.

Nikkei 225 dipped 1,234.79 points or 7.60% to 15,003.56, Hang Seng dropped 974.22 points or 4.67% to 19,894.12, Straits Times slipped 72.53 points or 2.60% to 2,721.32, Shanghai Composite decreased 34.38 points or 1.19% to 2,857.58, KOSPI Index contracted 76.40 points or 3.85% to 1,910.31, FTSE Bursa Malaysia KLCI declined 22.66 points or 1.38% to 1,617.32, Taiwan Weighted crumbled 264.23 points or 3.05% to 8,412.45, and Jakarta Composite was down by 110.94 points or 2.28% to 4,763.37.

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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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