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Asian Markets trade mostly higher in early deals of Tuesday

07 Feb 2023 Evaluate
Most of the Asian Markets traded higher in early deals of Tuesday, after sharp correction in previous session. However, gains remained capped amid woes over Fed rate hike outlook. Hang Seng rebounded from one month low boosted by US President Biden’s affirmation that US-Sino relation not spoiled after spy balloon incident. Moreover, surge in spending and travel activity during China's Lunar New Year holiday boosted investor sentiments. Meanwhile, reports showcased that services activity of China improved in January. Bucking the trend, Japan’s Nikkei slightly slipped due to profit booking after recent rally on optimism over BoJ’s continued ultra-dovish monetary policy. Japanese government had approached Bank of Japan Deputy Governor Masayoshi Amamiya about succeeding Haruhiko Kuroda as central bank head.

Hang Seng up by 177.27 points or 0.83% to 21,399.43, KOSPI rose by 11.61 points or 0.48% to 2,449.80, Jakarta Composite added by 59.53 points or 0.86% to 6,933.32, Taiwan higher by 30.00 points or 0.19% to 15,422.82, Shanghai widened by 10.62 points or 0.33% to 3,249.32, 

On the flip side, Nikkei 225 down by 18.68 points or 0.07% to 27,674.97, Straight times lower 8.15 points or 0.24% to 3,377.78, and FTSE Bursa Malaysia KLCI declined by 14.45 points or 0.97% to 1,476.02.

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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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