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Asian markets trade mixed in early deals on Friday

05 May 2023 Evaluate
Asian markets traded mixed in early deals on Friday, due to risk aversion in the market as banking concerns intensified and on woes over ramifications of US Federal Reserve’s 10 th straight interest rate hike. Investor sentiments also dampened after US weekly jobless claims rose and on jump in labour cost with slump in productivity. Shanghai stocks traded negative in the session followed by the disappointing manufacturing data. The Japanese stock market and South Korea are closed on account of Children's Day holiday.

Hang Seng rose by 128.18 points or 0.64% to 20,076.91, Taiwan widened by 2.41 points or 0.02% to 15,611.44, and FTSE Bursa Malaysia KLCI added by 2.77 points or 0.19% to 1,428.76

On the flip side, Straight times down by 5.55 points or 0.17% to 3,263.63, Jakarta Composite dipped 93.49 points or 1.38% to 6,750.54 and Shanghai narrowed by 23.84 points or 0.72% to 3,326.62.

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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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