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Asian markets settle higher on Monday

03 Jul 2023 Evaluate
Asian markets settled higher on Monday, tracking Wall Street’s gains last Friday amid signs of slowing inflation in the United States, even though hawkish comments from the US Federal Reserve officials raised expectations of more rate hikes this year. Seoul shares climbed even as a survey showed South Korea's factory activity shrank at a steeper pace in June and extended its downturn to a record 12th consecutive month. Japanese shares posted strong gains with reports of upbeat business sentiment for second quarter, while weaker yen also buoyed market sentiments. Investors shrugged off separate data showing that Japan's factory activity slipped back into contraction in June after expanding for the first time in seven months in May. Chinese shares gained on hopes that policymakers will deliver a strong economic stimulus package to boost growth. Although a private survey showed activity in China's manufacturing sector slowed in June.

Asian Indices                     

Last Trade                               

Change in Points                                   

Change in %                       

Shanghai Composite      

3,243.98

41.92

1.29

Hang Seng

19,306.59

390.16

2.02

Jakarta Composite

6,696.72

34.84

0.52

KLSE Composite

1,395.89

19.21

1.40

Nikkei 225

33,753.33

564.29

1.67

Straits Times

3,207.10

1.19

0.04

KOSPI Composite

2,602.47

38.19

1.47

Taiwan Weighted

17,084.20

168.66

0.99


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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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