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Asian markets trade mostly lower in early deals on Tuesday

18 Apr 2023 Evaluate
Most of the Asian markets traded lower in early deals on Tuesday, due to cautious outlook over global economic health amid continued interest rate hikes by Federal Reserve. Some losses were capped after Chinese economic data showcased sharp growth spurring optimism about economic rebound of the country. China's economy soared by 4.5% in the first quarter, the fastest pace in a year. Hang Seng snapped its three day winning streak as intensified global economic uncertainties and the prospect of further central bank policy tightening weighed on investor sentiments.

Hang Seng down by 155.81 points or 0.76% to 20,626.64, Straight times lower by 16.05 points or 0.42% to 3,303.21, Taiwan diminished by 88.10 points or 0.55% to 15,875.45, KOSPI dipped by 9.82 points or 0.38% to 2,566.09, Shanghai declined by 0.76 points or 0.02% to 3,384.85 and FTSE Bursa Malaysia KLCI narrowed by 4.28 points or 0.30% to 1,430.62.

On the flip side, Nikkei 225 up 128.31 points or 0.45% to 28,643.09, and Jakarta Composite rose by 40.67 points or 0.60% to 6,828.25.

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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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