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Asian markets trade mostly lower in early deals on Wednesday

05 Jul 2023 Evaluate

Most of the Asian markets traded lower in early deals on Wednesday, on account of risk aversion ahead to release of Federal Reserve monetary policy meeting minutes. Ambiguity over global economic growth amid continued interest rate hike by central banks around the globe and the renewed Sino-US geopolitical tensions also pressured investor sentiments. Japan’s Nikkei extended previous sessional losses as participants digested slower than expected services activity growth for June.

Nikkei 225 down 141.23 points or 0.42% to 33,281.29, Straight times dipped by 14.61 points or 0.46% 3,189.16, Hang Seng diminished by 268.31 points or 1.40% to 19,147.37, KOSPI curtailed by 10.18 points or 0.39% to 2,583.13, Taiwan reduced by 66.85 points or 0.39% to 17,073.92, Shanghai slipped by 16.67 points or 0.52% to 3,228.68 and FTSE Bursa Malaysia KLCI narrowed by 1.74 points or 0.13% to 1,394.23.

On the flip side, Jakarta Composite up by 24.15 points or 0.36% to 6,705.90.

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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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