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Asian markets end mostly lower on Monday

29 Aug 2016 Evaluate

Asian equity markets ended mostly lower on Monday after Federal Reserve Chair Janet Yellen hinted in her speech at the annual Jackson Hole conference that a rise in interest rates could be on the cards soon in the midst of an improving US economy. While Yellen's remarks raised the odds of a rate increase at the September FOMC meeting, many market participants now look ahead to this week's US jobs report for clues on the pace and timing of future rate hikes. Chinese shares ended on a flat note, as gains in industrial stocks offset weakness in the banking sector as a slew of interim corporate results showed tentative signs of bottoming-out in struggling sectors such as coal and steel. However, Japanese shares bucked the trend and hit a 1-1/2 week high, as the yen weakened against the resurgent dollar after comments from BOJ Governor Haruhiko Kuroda that the central bank will not hesitate to expand stimulus if needed at the Jackson Hole Symposium over the weekend.

Asian Indices

Last Trade            

Change in Points

Change in %  

Shanghai Composite

3,070.03

-0.28

-0.01

Hang Seng

22,821.34

-88.20

-0.38

Jakarta Composite

5,370.76

-68.07

-1.25

KLSE Composite

1,681.60

-1.49

-0.09

Nikkei 225

16,737.49

376.78

2.30

Straits Times

2,829.43

-28.22

-0.99

KOSPI Composite

2,032.35

-5.15

-0.25

Taiwan Weighted

9,110.17

-21.55

-0.24

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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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