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Asian markets settle mostly lower on mounting recession worries

02 Aug 2022 Evaluate
Asian markets settled mostly lower on Tuesday on account of mounting recession worries following signs of a global manufacturing downturn. Weak performance in Wall Street overnight also influenced Asian market sentiments. Chinese, Hong Kong and Taiwanese shares led losses on escalating US-China tension ahead of a possible visit by US House Speaker Nancy Pelosi to Taipei, the capital of Taiwan. Moreover, Japanese shares ended down as a firmer yen against the dollar prompted a sell-off in exporters.

Asian Indices

Last Trade               

Change in Points

Change in %   

Shanghai Composite

3,186.27-73.69-2.26

Hang Seng

19,689.21-476.63-2.36

Jakarta Composite

6,988.1619.380.28

KLSE Composite

1,495.05-7.02-0.47

Nikkei 225

27,594.73-398.62-1.42

Straits Times

3,239.150.400.01

KOSPI Composite

2,439.62-12.63-0.52

Taiwan Weighted

14,747.23-234.46-1.56

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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