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Asian markets end mostly higher on Wednesday

09 Mar 2022 Evaluate

Asian markets ended mostly higher on Wednesday despite the broadly negative cues overnight from US markets, amid the continued spike in crude oil prices and as traders picked up stocks at a bargain after the recent sell-off. However, the escalation in the Russia-Ukraine conflict and stringent sanctions imposed on Russia by the Western countries rendered the mood cautious. There were concerns about global oil supply after U.S. President Joe Biden announced a ban on import of Russian oil, liquefied natural gas, and coal. The surging energy prices will lead to higher inflation, encouraging the Federal Reserve to more aggressively raise interest rates. Japanese shares gave up early gains to end slightly lower, extending losses for the fourth straights session amid concerns about inflationary risks and a slowdown in the global economy.

Indices

Last Trade           

Change in Points

Change in %    

Shanghai Composite

3,256.39

-37.14

-1.13

Hang Seng

20,627.71

-138.16

-0.67

Jakarta Composite

6,864.44

50.26

0.74

KLSE Composite

1,562.33

15.46

1.00

Nikkei 225

24,717.53

-73.42

-0.30

Straits Times

3,195.38

46.52

1.46

KOSPI Composite

--

--

--

Taiwan Weighted

17,015.36

190.11

1.13


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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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