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Asian markets end lower on Monday

08 Jul 2019 Evaluate

Asian markets ended lower on Monday as strong US jobs data tempered expectations for a near-term interest rate cut by the Federal Reserve. The latest jobs report showed that US nonfarm payrolls jumped 224,000 in June, beating forecasts for 160,000. Geopolitical tensions also dented sentiment after Iran said it will break a limit set on uranium enrichment under its 2015 nuclear accord with major world powers. Chinese shares ended lower despite US-China trade talks resume with phone calls. As officials try to resolve a year-long trade war, Chinese Vice President Wang Qishan warned against ‘protectionism in the name of national security’, and called major powers to make more contributions to global peace and stability. Meanwhile, China's foreign exchange reserves increased marginally in June, data from the People's Bank of China showed. Foreign exchange reserves rose by $18.2 billion to $3.119 trillion at the end of June from $3.101 trillion at the end of May. Further, Japanese shares closed down as Fed rate cuts hopes faded and weak machinery orders data fanned concerns about domestic demand.

Asian Indices

Last Trade           

Change in Points

Change in %

Shanghai Composite

2,933.36
-77.70
-2.58

Hang Seng

28,331.69
-443.14
-1.54

Jakarta Composite

6,351.83
-21.65
-0.34

KLSE Composite

1,677.64

-4.89

-0.29

Nikkei 225

21,534.35
-212.03
-0.98

Straits Times

3,334.23
-32.58
-0.97

KOSPI Composite

2,064.17
-46.42
-2.20

Taiwan Weighted

10,751.22
-34.51
-0.32

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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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