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Asian markets end mostly higher on Wednesday

20 Jan 2021 Evaluate

Asian markets ended mostly higher on Wednesday ahead of Joe Biden's inauguration as US President. Also, market sentiments improved following optimism that faster rollout of corona virus vaccines and large-scale fiscal stimulus would eventually lift global economic growth. US Treasury Secretary nominee Janet Yellen called for big action on the Covid-19 pandemic and economic crisis at her Senate confirmation hearing Tuesday. Chinese shares finished higher as the country's central bank left its benchmark lending rates unchanged, as widely expected. The one-year loan prime rate was retained at 3.85 percent and the five-year loan prime rate was maintained at 4.65 percent. However, Japanese shares retreated as the US dollar slipped against the yen, while growing concerns about surging corona virus cases too added pressure on Japanese markets.

Asian Indices

Last Trade           

Change in Points

Change in %

Shanghai Composite

3,583.09
16.71
0.47

Hang Seng

29,962.47
320.19
1.08

Jakarta Composite

6,429.76
107.90
1.71

KLSE Composite

1,601.54

-0.34

-0.02

Nikkei 225

28,523.26
-110.20
-0.38

Straits Times

2,998.77
2.85
0.10

KOSPI Composite

3,114.55
21.89
0.71

Taiwan Weighted

15,806.18
-71.19
-0.45

About MoneyWorks4Me

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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