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Asian markets trade mostly higher on Tuesday

05 Jan 2021 Evaluate
Most of the Asian equity benchmarks are trading higher on Tuesday, rebounded after opening lower with the technical buying. The gains however muted with the worries over the peaking COVID cases and government measures to tame it. Investors also turned cautious ahead of two key Senate run-off elections in Georgia later today that will determine which party controls the Senate and could have a major impact on President-elect Joe Biden's economic policies. Japan’s Nikkei extended losses from the previous session in tandem with the negative cues from Wall Street  and on cautious trade amid news that Japanese government plans to declare a month-long state of emergency in Tokyo and neighbouring prefectures. Among the other Asian markets, Hong Kong, Taiwan, South Korea, Indonesia and China are in positive territory. Bucking the trend, Japan, Singapore and Malaysia are in downward trend.

Hang Seng increased by 63.15 points or 0.23% to 27,535.96, Taiwan Weighted higher 98.00 points or 0.66% to 15,000.03, KOSPI Index widened 27.23 points or 0.92% to 2,971.68, Jakarta Composite added 13.66 points or 0.22% to 6,118.56, and Shanghai Composite enlarged by 7.71 points or 0.22% to 3,510.67.

On the flip side, Nikkei 225 down by 98.18 points or 0.36% to 27,160.20, Straits Times dipped by 8.14 points or 0.28% to 2,850.76 and FTSE Bursa Malaysia KLCI slipped by 9.25 points 0.58% to 1,593.32.

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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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