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Asian markets trade mostly lower in early deals on Tuesday

28 Apr 2020 Evaluate

Most of the Asian equity benchmarks are trading mostly lower in early deals on Tuesday, due to market woes followed by fresh surges of coronavirus cases in places like China and South Korea, where they had declined as a result of social distancing, testing and arduous efforts by medical workers. Crude oil rates plunged for second session in a row, adding concerns. Meanwhile, many countries are inching towards to let businesses reopen and central banks are stepping in to provide cash to economies, limited the downside. Japan's Nikkei trimmed position though opened higher, after the report that country's unemployment rate rose to a one-year high in March. Among the Asian markets, Japan, Singapore, South Korea, Indonesia, and Malaysia are trading in green. Bucking the trend, Hong Kong, Taiwan and Shanghai are in negative territory.

Nikkei 225 down by 94.50 points, 0.48% to 19,688.72, Straits Times slipped by 6.71 points or 0.26% to 2,542.69, KOSPI Index dropped by 2.20 points or 0.11% to 1,920.57, Jakarta Composite dulled by 5.73 points or 0.13% to 4,507.41 and FTSE Bursa Malaysia KLCI declined by 1.24 points or 0.09% to 1,368.92.

On the flip side, Hang Seng up by 186.28 points or 0.77% to 24,466.42, Taiwan Weighted enlarged 32.66 points or 0.31% to 10,599.93,Shanghai higher by 2.99 points or 0.11% to 2,818.48.

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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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