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Asian markets trade lower in early deals on Friday

17 Feb 2023 Evaluate
Asian markets traded lower in early deals on Friday, due to risk aversion amid woes over continued sharp interest rate hikes after recent stronger-than-expected US economic data. Federal Reserve officials had hinted another 50 basis point rate hike to tame the inflationary pressure. Japan’s Nikkei retreated from last day gains counting on negative global indices overnight. Meanwhile, Japan registered a record trade deficit of 3.5 trillion yen in January due to weakening global demand and elevated import costs.

Nikkei 225 down by 180.08 points or 0.65% to 27,517.40, Hang Seng enlargement by 121.37 points or 0.58% to 20,866.30, Taiwan lower by 68.84 points or 0.44% to 15,481.66, KOSPI diminished by 19.76 points or 0.80% to 2,455.72, Jakarta Composite shrunk by 15.95 points or 0.23% to 6,879.71, Shanghai narrowed 5.21 points or 0.16% to 3,243.82, and FTSE Bursa Malaysia KLCI curtailed by 6.91 points or 0.47% to 1,477.35.

On the flip side, Straight times rose by 14.15 points or 0.43% to 3,325.38.

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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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