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Asian markets end mostly higher on Tuesday

16 May 2023 Evaluate
Asian markets ended mostly higher on Tuesday on China stimulus hopes, despite data showed Chinese industrial production, retail sales and fixed asset investment missed expectations in April. Market sentiments improved further by tracking Wall Street’s gains overnight as both US President Joe Biden and Treasury Secretary Janet Yellen expressed optimism about an eventual agreement on raising the US debt. Seoul shares gained marginally after data showed South Korea’s export and import prices rose for a third consecutive month in April as the Korean won weakened against the US dollar. Moreover, Japanese shares rose by strong corporate earnings with signs that inflationary pressures might be easing.

Asian Indices

Last Trade            

Change in Points

Change in %  

Shanghai Composite

3,290.99

-19.75

-0.60

Hang Seng

19,978.25

7.12

0.04

Jakarta Composite

6,676.56

-35.18

-0.53

KLSE Composite

1,423.50

6.13

0.43

Nikkei 225

29,842.99

216.65

0.73

Straits Times

3,214.04

-0.68

-0.02

KOSPI Composite

2,480.24

0.89

0.04

Taiwan Weighted

15,673.90

198.85

1.27


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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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