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Asian markets trade mixed in early deals on Tuesday

08 Nov 2022 Evaluate
Asian markets traded mixed in early deals of Tuesday due to risk aversion ahead to the results of the US midterm elections which could affect Sino-US relationship, and the October inflation reading for more cues on monetary policy outlook of central banks. Hawkish tone in last Federal Reserve monetary policy meeting had dulled investor sentiments. Moreover, reports that China’s covid-19 cases soared to the highest level since April 30th pressured investments. Japan’s Nikkei advanced with the positive cues from Wall Street overnight and on upbeat corporate earnings outlook for quarter three. 

Nikkei 225 up by 391.26 points or 1.42% to 27,918.90, Straight times higher 11.02 points or 0.35% to 3,152.33, KOSPI rose by 24.65 points or 1.04% to 2,396.44, and Taiwan enlarged by 143.64 points or 1.09% to 13,367.37.

On flip side, Hang Seng down by 7.16 points or 0.04% to 16,588.75, Jakarta Composite shrunk by 38.90 points or 0.55% to 7,063.50, Shanghai diminished by 15.88 points or 0.52% to 3,061.94, and FTSE Bursa Malaysia KLCI decreased by 5.50 points or 0.38% to 1,436.62.

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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