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Asian markets trade mostly lower in early deals on Tuesday

21 Feb 2023 Evaluate
Most of the Asian Markets traded lower in early deals on Tuesday, due to risk aversion on intensified fears over global economic health amid prospects of tighter monetary policy by US Federal Reserve, untamed inflation and lingering geopolitical tensions. Participants are keenly awaiting for minutes of the latest FOMC meeting this week, for more cues. Meanwhile, Beijing reportedly warned the US that it would ‘bear all the consequences’ if it escalated the controversy over a Chinese balloon. Japan’s Nikkei curtailed in the session after the purchasing manager index in the country dipped at the fastest pace in 30 months in February. Participants also got sidelined followed by the appointment of first academic economist as the governor of Bank of Japan.

Nikkei 225 down by 36.72 points or 0.13% to 27,495.22, Straight times dipped by 3.21 points or 0.10% to 3,305.54, Hang Seng narrowed by 207.23 points or 1.00% to 20,679.73, Taiwan lower by 11.70 points or 0.10% to 15,539.53, Jakarta Composite shrunk by 3.89 points or 0.06% to 6,890.83.
 
On the flip side, KOSPI rose by 4.32 points or 0.18% to 2,459.10, Shanghai lifted 3.37 points or 0.10% to 3,293.71 and FTSE Bursa Malaysia KLCI added by 1.40 points or 0.09% to 1,474.86.

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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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