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Asian markets trade mostly lower in early deals on Wednesday

03 May 2017 Evaluate

Most of the Asian equity benchmarks are trading lower in the early deals on Wednesday as investors turned cautious ahead of the US Federal Reserve's monetary policy decision due later in the day. However, modest gains overnight on Wall Street and as tech giant Apple reported weaker than expected revenues as well as a surprise fall in iPhone sales in the second quarter capped some losses. Among the other Asian markets, Shanghai, Malaysia and Indonesia are edging lower. Bucking the trend, Singapore, and Taiwan are higher. The stock markets in South Korea and Hong Kong are closed in observance of Buddha's birthday, while the markets in Japan are closed for the rest of the week for the Golden Week holiday.
 
Shanghai Composite declined 10.31 points or 0.33% to 3,133.40, Jakarta Composite dropped 4.3 points or 0.08% to 5,671.50, and FTSE Bursa Malaysia KLCI was down by 0.03 points or 0% to 1,778.44.

On the flip side, Straits Times added 20.12 points or 0.63% to 3,231.23, and Taiwan Weighted was up by 6.02 points or 0.06% to 9,947.29.

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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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