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Asian markets trade higher in early deals on Friday

03 Mar 2023 Evaluate
Asian markets traded higher in early deals on Friday, supported by the short covering after recent sell off followed by intensified bets for more interest rate hikes to tame inflation. Moreover, upbeat Chinese service sector data also provided optimism about global economic rebound. Japan’s Nikkei soared in tandem with positive Wall Street overnight. Meanwhile, investor sentiments also got boosted after the unemployment rate in Japan showed a dip by 2.4% in January, and as the country’s services sector posted strong growth in February.

Nikkei up by 430.32 points or 1.56% to 27,929.19, Straight times higher by 12.18 points or 0.38% to 3,247.08, Hang Seng rose by 145.70 points or 0.71% to 20,575.16, , KOSPI lifted by 3.14 points or 0.13% to 2,430.99 and Taiwan gained by 35.56 points or 0.23% to 15,633.29, Shanghai buoyed 5.91 points or 0.18% to 3,318.26.

On the flip side, Jakarta Composite dipped by 42.42 points or 0.62% to 6,815.00, and FTSE Bursa Malaysia KLCI down by 1.30 points or 0.09% to 1,454.19.

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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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