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Asian markets trade in red in early deals on Wednesday

03 May 2023 Evaluate

Asian markets traded in red in early deals on Wednesday, due to risk aversion ahead to key Fed decision on interest rate hike later in the day. Additionally, investor sentiments also dulled after Janet Yellen pointed inevitability of a debt ceiling hike. Softer US economic data and Western banking sector woes also saddled investments. Hang Seng tumbled in the session after four straight sessional gains mostly as tech sector stocks dragged ahead to US policy decision. Stock markets of China and Japan are closed for a holiday.

Hang Seng down by 348.45 points or 1.78% to 19,585.36, Straight times dipped by 29.01 points or 0.88% to 3,252.98, Taiwan narrowed by 76.74 points or 0.49% to 15,559.74, KOSPI weak by 24.34 points or 0.97% to 2,500.05, , Jakarta Composite slipped 74.81 points or 1.09% to 6,788.49 and FTSE Bursa Malaysia KLCI shrunk by 8.27 points or 0.58% to 1,417.84.

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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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