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Asian markets end mostly lower on Tuesday

23 Nov 2021 Evaluate

Asian markets ended mostly lower on Tuesday due to bets of quicker interest rate hikes in United States after President Joe Biden nominated Jerome Powell for a second term as Fed chairman and current Fed Governor Lael Brainard as vice chair. While, resurgence of corona-virus infections in Europe also weighed on market sentiments. Hong Kong shares declined as tech shares fell on signs of Beijing’s continued tight scrutiny of the tech sector. However, Chinese shares rose on optimism for China policy easing, after the Chinese central bank People’s Bank of China reportedly cut several phrases on policy restraint in its quarterly report. China Evergrande Group shares jumped along with those of its electric vehicle and property management units after the company said it planned to raise around $347 million in a share placement. Meanwhile, the Japanese market was closed on account of Labor Thanksgiving Day.

Asian Indices

Last Trade           

Change in Points

Change in %    

Shanghai Composite

3,589.09
7.01
0.20

Hang Seng

24,651.58
-299.76
-1.20

Jakarta Composite

6,677.88
-45.51
-0.68

KLSE Composite

1,522.88-3.99-0.26

Nikkei 225

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Straits Times

3,227.53
-9.55
-0.30

KOSPI Composite

2,997.33
-15.92
-0.53

Taiwan Weighted

17,666.12
-137.42
-0.77


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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