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Asian markets trade mostly higher in early deals on Tuesday

24 Nov 2020 Evaluate
Most of the Asian equity benchmarks are trading higher on Tuesday, catching up with the positive cues from Wall Street overnight. Market sentiments got boosted after British pharmaceutical giant AstraZeneca said its coronavirus vaccine candidate being developed in collaboration with Oxford University had an average efficacy of 70 percent. News that the Trump administration has officially commenced the transition process to US President-elect Joe Biden, and Biden has chosen former US Federal Reserve Chair Janet Yellen to be Treasury Secretary also added the upside momentum. Japan’s Nikkei is notably higher with the surge in exports after safe haven yen weakened. Among the Asian markets, Japan, Singapore, South Korea, Indonesia, and Malaysia are in positive side. Bucking the trend, Hong Kong, Taiwan and China are trading lower.

Nikkei 225 up by 606.19 points 2.37% to 26,133.56, Straits Times rose by 26.46 points 0.93% to 2,875.24, KOSPI Index higher 9.74 points 0.37% to 2,612.33, Jakrata Composite enlarged by 36.00 points or 0.64% to 5,688.76, and FTSE Bursa Malaysia KLCI widened by 9.75 points or 0.61% to 1,587.73.

On the flip side, Hang Seng down by 1.62 points or 0.01% to 26,484.58, Taiwan Weighted decreased 69.47 points or 0.50% to 13,808.54, and Shanghai Composite narrowed by 7.73 points or 0.23% to 3,406.76.

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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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