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Asian markets trade in red early deals on Friday

24 Mar 2023 Evaluate
Asian markets traded in red in early deals on Friday, as the risk aversion intensified in the market due to persisting concerns over recent bank crisis and on woes that the rising benchmark interest rates would restrain global economic health. Japan’s Nikkei extended previous sessional losses amidst concerns over economic slowdown after the Feb core CPI dipped from 41 year high, while cost pressure persists. Overall consumer prices in Japan climbed by 3.3% on year in February. Meanwhile Japanese exporters weakened due to stronger local currency yen.

Nikkei 225 down by 103.18 points or 0.38% to 27,316.43, Hang Seng dipped by 42.45 points or 0.21% to 20,007.19, KOSPI declined by 18.30 points or 0.75% to 2,406.18, Shanghai curtailed 17.76 points or 0.54% to 3,268.89 and FTSE Bursa Malaysia KLCI shrunk by 7.42 points or 0.53% to 1,403.56.

On the flip side, Straight times up by 0.60 points or 0.02% to 3,219.60, Taiwan added by 41.74 points or 0.26 % to 15,905.69, and Jakarta Composite rose by 64.96 points or 0.97% to 6,756.57.

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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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