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Asian markets trade lower in early deals on Friday

21 Apr 2023 Evaluate
Asian markets traded lower in early deals on Friday, as the investors went wary over potential recession amid continued hawkish central banks. Meanwhile, existing home sales in the US declined more than expected in March while initial jobless claims sharply accelerated for the 2nd week. Investor sentiments also dampened on news that China plans to conduct intensive military drills amid tensions with Taiwan and the US while Washington and Manila reportedly will launch their biggest joint defence exercise next week. Japan’s Nikkei retreated after notching eight-month highs on profit taking and on negative global indices. Stock markets of Indonesia and Malaysia are closed for Eid al-Fitr.

Nikkei 225 down 92.50 points or 0.32% to 28,565.07, Straight times dipped by 6.00 points or 0.18% to 3,307.41, Hang Seng shrunk by 129.59 points or 0.64% to 20,267.38, KOSPI diminished by 24.80 points or 0.97% to 2,538.31, Taiwan narrowed by 75.55 points or 0.48% to 15,631.97 and Shanghai declined by 37.38 points or 1.12% to 3,329.65.

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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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