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Asian markets trade mostly lower in early deals on Tuesday

22 Sep 2020 Evaluate
Most of the Asian equity benchmarks are trading lower on Tuesday, as the heavy liquidation amid worries about surge in COVID-19 cases in several countries across Europe and the potential for the renewal of restrictions on activity, as well as uncertainty over a fresh round of government relief, dulled investor sentiments. In addition, the death of Supreme Court Justice Ruth Bader Ginsburg weighed on the markets as it is feared a fight over the nomination of her replacement could lead to further delays in the passage of another coronavirus relief bill. Oil stocks are in offloading mode as the crude oil plunged overnight, The Japanese market is closed for a holiday. Among the Asian markets, Singapore, Taiwan, Hong Kong, China, Indonesia and South Korea are in negative note. Bucking the trend, Malaysia is in positive side.

Straits Times slipped by 19.90 points 0.80% to 2,465.81, Hang Seng down by 123.31 points or 0.51% to 23,827.38, Taiwan Weighted shrunk 142.11 points 1.11% to 12,653.01, Jakarta Composite narrowed by 43.37 points or 0.87% to 4,955.99, Shanghai diminished 10.34 points or 0.31% to 3,306.60, and KOSPI Index decreased 54.26 points or 2.27% to 2,335.13.

On the flip side, FTSE Bursa Malaysia KLCI up by 6.96 points or 0.46% to 1,506.39.

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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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