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Asian markets settle mostly higher on Wednesday

11 Jan 2023 Evaluate
Asian markets settled mostly higher on Wednesday with slower interest rate hike expectations from the US Central Bank. Wall Street gains overnight on relief that US Fed Chair Jerome Powell refrained from commenting on interest rate policy in a speech at a symposium, also supported market sentiments. Japanese shares rallied with export-oriented stocks gaining on recent weakness in the Japanese currency, yen. In Hong Kong, tech giants such as Alibaba Group Holding and Tencent Holdings soared after China signalled that it would wind down regulatory scrutiny of the country's biggest internet firms. Even though, the market participants remained cautious ahead of the release of inflation data from US due on Thursday. Chinese shares dropped as PBoC data showed that Chinese banks extended 1.4 trillion yuan in new yuan loans in December, up from November and beats expectations.

Asian Indices

Last Trade            

Change in Points

Change in %  

Shanghai Composite

3,161.84

-7.67

-0.24

Hang Seng

21,436.05

104.590.49

Jakarta Composite

6,584.45

-38.05

-0.57

KLSE Composite

1,487.87

2.74

0.18

Nikkei 225

26,446.00

270.44

1.03

Straits Times

3,271.51

8.600.26

KOSPI Composite

2,359.53

8.22

0.35

Taiwan Weighted

14,751.44

-51.52

-0.35


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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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