Asian markets settle mostly lower on Tuesday

18 Jul 2023 Evaluate

Asian markets settled mostly lower on Tuesday. Chinese and Hong Kong shares declined as weaker-than-expected Chinese gross domestic product data fuelled concerns about recovery in the world's second-largest economy. Data showed that China's 6.3% GDP growth for the second quarter marked a 0.8% pace of growth from the first quarter, slower than the 2.2% quarter-on-quarter pace recorded in the first three months of 2023. However, Japanese shares rose by tracking Wall Street’s overnight rally with hopes that the US Federal Reserve is nearing the end of its tightening cycle.

Asian Indices	Last Trade	Change in Points	Change in %
Shanghai Composite	3,197.82	-11.81	-0.37
Hang Seng	19,015.72	-398.06	-2.09
Jakarta Composite	6,830.20	-36.94	-0.54
KLSE Composite	1,403.03	-3.07	-0.22
Nikkei 225	32,493.89	102.63	0.32
Straits Times	3,254.26	-0.17	-0.01
KOSPI Composite	2,607.62	-11.38	-0.44
Taiwan Weighted	17,227.91	-106.38	-0.62

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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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