Asian markets settle higher on Thursday

18 May 2023 Evaluate

Asian markets settled higher on Thursday tracking Wall Street gains overnight amid optimism over the progress of debt ceiling negotiations in Washington. Japanese shares led gains in the region followed by chipmakers' investment plans. Micron Technology Inc said it would invest up to 500 billion yen to produce next-generation semiconductors in Japan after Prime Minister Fumio Kishida held talks with some of the world’s biggest chipmakers. Chinese shares rose after data showed China’s fiscal revenue gained 11.9% in the first four months of 2023 from the same period a year earlier, up sharply from a 0.5% gain in January-March. Seoul shares settled up, despite fears of a possible global recession later in the year. Meanwhile, Indonesia market was closed on account of Ascension Day holiday.

Asian Indices	Last Trade	Change in Points	Change in %
Shanghai Composite	3,297.32	13.09	0.40
Hang Seng	19,727.25	166.68	0.84
Jakarta Composite	--	--	--
KLSE Composite	1,428.04	3.70	0.26
Nikkei 225	30,573.93	480.34	1.57
Straits Times	3,182.55	8.71	0.27
KOSPI Composite	2,515.40	20.74	0.82
Taiwan Weighted	16,101.88	176.59	1.10

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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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