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Asian markets trade in green in early deals on Wednesday

18 May 2023 Evaluate

Asian markets traded in green in early deals on Wednesday, mirroring positive trend in Wall Street overnight amid optimism that US would strike a deal on the debt ceiling and avert a default. Market participants also braced dovish policy measures implemented by Chinese government to stem its economy to fall in track to the rebound momentum. Japan’s Nikkei gained for the sixth consecutive session, notching its highest levels in twenty months followed by robust domestic earnings data. Additionally, foreign investments gained momentum with the subdued local currency yen. Meanwhile, Indonesia market is closed on account of Ascension Day holiday.

Nikkei 225 up 438.93 points or 1.46% to 30,532.52, Hang Seng rose by 217.38 points or 1.10% to 19,777.95, Straight times added by 9.21 points or 0.29% to 3,183.05, KOSPI buoyed by 14.49 points or 0.57% to 2,509.15, Taiwan lifted by 173.91 points or 1.09% to 16,099.20, Shanghai widened by 25.51 points or 0.77% to 3,309.74, and FTSE Bursa Malaysia KLCI enlarged by 0.19 points or 0.01% to 1,424.53.

About MoneyWorks4Me

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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