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Asian markets settle mostly lower on Wednesday

04 Jan 2023 Evaluate
Asian markets settled mostly lower on Wednesday as investors awaited minutes from the US Federal Reserve's December meeting later in the day, which could offer clues to the Fed's future actions. Japanese shares dropped as traders returned to their desks after a long holiday weekend for the New Year, while Japan’s currency yen advanced with fears that the BoJ might move away from its ultra-easy monetary policy. However, Chinese shares rose on the back of the expectations of swift post-covid recovery in the economy. Hong Kong shares gained after China’s property developers surged following forecast beating December sales and news that Chinese officials were considering further support for property developers. Meanwhile, shares in Hong Kong listed Alibaba Group Holdings jumped as much as 8% following news that Ant Group Co., in which the e-commerce giant holds a stake, won approval to raise $1.5 billion for its consumer unit. 

Asian Indices

Last Trade            

Change in Points

Change in %  

Shanghai Composite

3,123.52

7.010.22

Hang Seng

20,793.11

647.823.22

Jakarta Composite

6,813.24

-75.52

-1.10

KLSE Composite

1,469.55

-4.44-0.30

Nikkei 225

25,716.86

-377.64-1.45

Straits Times

3,242.46

-3.34-0.10

KOSPI Composite

2,255.98

37.301.68

Taiwan Weighted

14,199.13

-24.99

-0.18

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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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