Asian markets settle mostly down on Thursday

01 Jun 2023 Evaluate

Asian markets settled mostly down on Thursday amidst overnight decline in Wall Street shares following unexpected strong data on the labour market which fuelled worries the Federal Reserve might hike interest rates again in June. However, fears of a US debt default eased after the US House of Representatives passed the US debt ceiling bill. The bill now heads to the US Senate with passage expected by weekend. Meanwhile, Chinese shares closed flat after a private survey showed the country's factory activity unexpectedly swung to growth in May from decline. The China Caixin/S&P Global manufacturing PMI rose to 50.9 in May from 49.5 in April.

Asian Indices	Last Trade	Change in Points	Change in %
Shanghai Composite	3,204.63	0.07	--
Hang Seng	18,216.91	-17.36	-0.10
Jakarta Composite	--	--	--
KLSE Composite	1,383.01	-4.11	-0.30
Nikkei 225	31,148.01	260.13	0.84
Straits Times	3,166.30	7.50	0.24
KOSPI Composite	2,569.17	-7.95	-0.31
Taiwan Weighted	16,512.65	-66.31	-0.40

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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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Investing in stocks, mutual funds, debt, and gold
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