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Asian markets trade mixed in early deals on Thursday

27 Oct 2022 Evaluate
Asian markets traded mixed in early deals on Thursday, as the lower-than-expected latest corporate earnings report fanned recession fears. Sharp correction in Wall Street overnight also saddled investments in Asian indices. However, bets on slowing pace of interest rate hikes by the major central banks boosted some confidence among investors. Retreat in dollar buoyed the stocks, while weaker bond yields limited gains. Japan’s Nikkei snapped three day winning streak, as the sharp rebound in local currency yen led lower investments. Nikkei had notched one-month high rate in previous session. While, Hang Seng soared higher after last week’s historic plunge, and as investors braced reports of cheap valuations and solid corporate earnings.

Nikkei 225 down by 39.29 points or 0.14% to 27,392.55, Straight times shrunk 5.10 points or 0.17% to 3,003.28, Shanghai diminished by 2.08 points or 0.07% to 2,997.42, and FTSE Bursa Malaysia KLCI declined by 0.17 points or 0.01% to 1,454.81.

On flip side, Hang Seng increased by 266.48 points or 1.74% to 15,584.15, KOSPI jumped by 30.52 points or 1.36% to 2,280.08, Taiwan higher by 170.29 points or 1.34% to 12,899.34, and Jakarta Composite up by 37.31 points or 0.53% to 7,081.25.

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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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