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Asian Markets trade mixed in early deals of Tuesday

04 Apr 2023 Evaluate
Asian markets traded mixed in early deals on Tuesday, as the indices wobble on insinuation over the inflation outlook in the wake of OPEC+’s surprise plan to cut oil output. The expected announcement by the group of major oil producers stoked fears that the US Federal Reserve may need to tighten policy further to keep inflation under control. Additionally, market sentiments saddled on news that Chinese manufacturing sector unexpectedly stalled in March, spooking fears about the unstable economic recovery of the country. Japan’s Nikkei advanced for the third straight session in tandem with the positive Wall Street overnight. Meanwhile, the country awaited for services activity data due on Wednesday and wages and spending data on Friday.

Nikkei 225 up 67.88 points or 0.24% 28,256.03, Straight times added by 25.81 points or 0.79% to 3,306.89, KOSPI rose by 3.97 points or 0.48% to 2,484.22, and Shanghai higher 7.93 points or 0.24% to 3,304.33.

On the flip side, Hang Seng down by 131.15 points or 0.67% to 20,278.03, Jakarta Composite dipped by 25.70 points or 0.38% to 6,801.48 and FTSE Bursa Malaysia KLCI declined by 5.02 points or 0.35% to 1,428.37.

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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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