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Asian markets end mostly higher on Tuesday

10 Nov 2020 Evaluate

Asian markets ended mostly higher on Tuesday after Pfizer and BioNTech announced that their vaccine candidate was more than 90 percent effective in preventing Covid-19 and that they have so far found no serious safety concerns, which fueled hopes for a quick global economic recovery from the pandemic-driven crisis. Japanese shares ended higher after its Prime Minister Yoshihide Suga instructed his ministers to compile a third extra budget for fiscal 2020, which will end in March, to finance a fresh stimulus package to fight the economic impact of the pandemic, while a cheaper yen has also supporting Japanese shares. Though, Chinese shares declined as the latest inflation data rekindled worries about deflation. Consumer prices in China were up just 0.5 percent year on year in October against expectations for 0.8 percent and down sharply from 1.7 percent, the National Bureau of Statistics said in a report. The bureau also said that producer prices were down an annual 2.1 percent, unchanged from the previous month but missing expectations for a 2 percent decline.

Asian Indices

Last Trade           

Change in Points

Change in %

Shanghai Composite

3,360.15
-13.58
-0.40

Hang Seng

26,301.48
285.31
1.10

Jakarta Composite

5,462.74
106.73
1.99

KLSE Composite

1,575.07

50.75

3.33

Nikkei 225

24,905.59
65.75
0.26

Straits Times

2,705.00
95.64
3.67

KOSPI Composite

2,452.83
5.63
0.23

Taiwan Weighted

13,081.72
-45.75
-0.35

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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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