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Asian markets trade mostly lower in early deals on Tuesday

07 Jun 2022 Evaluate

Asian markets traded mostly lower in early deals on Tuesday, as market players side lined ahead to this week’s key inflation data and on bets over hawkish stance by US Federal Reserve to tackle the mounting inflation. Meanwhile, persisting supply chain chaos, ongoing-war and global economic slowdown fears also weighed on the market sentiments. However, Nikkei extended gains to the third straight session buoyed by the positive overnight cues from Wall Street and on optimism over further economic reopening as it prepares to welcome international tourists. While, Japan’s average household spending dipped by 1.7% on year in April, at 304,510 yen, down from the projected decline 0.8%, and the 2.3% decline in the previous month.

Straight times down 7.14 points or 0.22% to 3,219.49, Hang Seng decreased by 25.53 points or 0.12% to 21,628.37, Taiwan lower by 80.19 points or 0.48% to 16,525.77, KOSPI narrowed by 35.35 points or 1.32% to 2,635.30  and FTSE Bursa Malaysia KLCI dipped by 7.51 points or 0.49% to 1,530.32.

Bucking the trend, Nikkei 225 up by 121.08 points or 0.43% to 28,036.97, Jakarta Composite rose by 33.64 points or 0.47% to 7,130.22 and Shanghai higher by 15.63 points or 0.48% to 3,252.00.

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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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