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Asian markets trade mostly higher in early deals on Monday

05 Jun 2023 Evaluate
Most of the Asian markets traded higher in early deals on Monday, kindled by the risk appetite in the market after President Joe Biden signed debt ceiling bill into law and averted a potentially catastrophic US default. Moreover, optimism over China’s post-pandemic recovery after a private survey’s report on rise in services sector growth for May also buoyed investor sentiments. Japan’s Nikkei soared higher marking above 33-year highs tracking positive global cues. Additionally, bullish trend in Nikkei is lifted by strong May domestic earnings and on surge in investments due to weaker local currency yen. Stock market of Malaysia is closed for Yang Dipertuan Agong's Birthday.

Nikkei 225 up 558.49 points or 1.77% to 32,082.71, Straight times rose by 22.45 points or 0.71% to 3,188.75, Hang Seng enlarged by 102.43 points or 0.54% to 19,052.37, Taiwan widened by 55.65 points or 0.33% to 16,762.56, KOSPI added by 15.95 points or 0.61% to 2,617.31, Jakarta Composite lifted 6.78 points or 0.10% to 6,640.04 and Shanghai buoyed by 2.74 points or 0.08% to 3,232.81.

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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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