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Asian markets trade mostly lower in early deals on Tuesday

11 Oct 2022 Evaluate
Most of the Asian markets traded lower in early deals on Tuesday, due to risk aversion in the market amid intensified geo-political tensions in Russia-Ukraine war, and US-China chip war. Meanwhile, rising domestic Covid-19 outbreaks spooked woes surrounding fresh lock down measures in China ahead of the key Communist Party congress this month, also dulled investor sentiments. Japan’s Nikkei tumbled in the session mirroring negative global cues ahead to US inflation data, FOMC minutes and appearances from several Fed officials this week which will gauge the interest rate outlook.

Nikkei 225 down by 697.23 points or 2.57% to 26,418.88, Straight times dipped 2.24 points or 0.07% to 3,105.23, Hang Seng decreased by 218.14 points or 1.27% to 16,998.52, Taiwan lower by 546.43 points or 3.99% to 13,155.85, KOSPI narrowed by 47.69 points or 2.14% to 2,185.15, Jakarta Composite curtailed by 12.34 points or 0.18% to 6,982.06, and FTSE Bursa Malaysia KLCI shrunk by 18.41 points or 1.31% to 1,387.59.

On flip side, Shanghai rose by 11.96 points or 0.40% to 2,986.11.

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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