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Asian markets trade mostly lower in early deals on Tuesday

17 Jan 2023 Evaluate
Most of the Asian markets traded lower in early deals on Tuesday, due to woes over sluggish fourth-quarter economic data of China, posting its second-lowest annual economic growth in almost 50 years. The weak economic data spurred fears over global economic slowdown, continued inflation surge, weaker corporate profits and aggressive interest rate hikes by Central banks. Oil and gold sector stocks experienced hefty correction in the session. Hang Seng tumbled in the session due to risk aversion counting on tepid Chinese economic prospects. However, Japan’s Nikkei rebounded after two consecutive sessional losses after local currency yen softened and lifted country’s exporting.

Hang Seng down by 219.33 points or 1.02% to 21,527.39, KOSPI dipped by 17.00 points or 0.71% to 2,382.86, Straight times declined 3.20 points or 0.10% to 3,280.40, Shanghai shrunk by 7.91 points or 0.25% to 3,219.68, and FTSE Bursa Malaysia KLCI lower by 2.79 points or 0.19% to 1,490.77.

On the flip side, Nikkei 225 up by 332.33 points or 1.29% to 26,154.65, Jakarta Composite rose by 85.38 points or 1.26% to 6,773.44, and Taiwan enlarged by 7.96 points or 0.05% to 14,934.97.

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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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