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Asian markets end higher on Tuesday

30 Jun 2020 Evaluate

Asian markets ended higher on Tuesday after strong gains on Wall Street overnight on optimism over economic activity recovery, despite the reports of surging corona virus pandemic cases worldwide. Market sentiment improved further on strong data from the US housing market and Chinese factories. Data showing that China's manufacturing sector expanded more than expected in June, and at a slightly faster rate with a manufacturing PMI score of 50.9. That beat expectations for 50.4 and was up from 50.6 in May. The non-manufacturing index came in with a score of 54.4, beating expectations for 54.1 and up from 53.6 in the previous month. Data showed that the amount of future home sales in the US in May increased by 44.3% month-on-month against expected growth of 18.9%. Investors shrugged off disappointing economic data released from Japan earlier in the day, including rising unemployment and weak factory activity for May.

Asian Indices

Last Trade           

Change in Points

Change in %

Shanghai Composite

2,984.67
23.15
0.78

Hang Seng

24,427.19
125.91
0.52

Jakarta Composite

4,905.39
3.57
0.07

KLSE Composite

1,500.97

6.54

0.44

Nikkei 225

22,288.14
293.10
1.33

Straits Times

2,589.91
15.81
0.61

KOSPI Composite

2,108.33
14.85
0.71

Taiwan Weighted

11,621.24
78.62
0.68

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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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