Asian markets settle mostly higher on Monday

24 Jul 2023 Evaluate

Asian markets settled mostly higher on Monday amid expectations that the US Federal Reserve would pause its tightening cycle after delivering a 25-bps hike this week. Expectations of more stimulus measures to prop up slowing growth in China also supported market sentiments. Meanwhile, investors are also focusing on upcoming European Central Bank and the Bank of Japan meetings for directional cues. Japanese shares posted strong gains as a weaker yen lifted risk sentiment. However, Chinese shares declined as debt repayment worries deepen in real estate industry. Hong Kong shares fell after Chinese e-commerce giant Alibaba Group Holding said it does not plan to sell any shares in its one-third shareholding in financial technology company Ant Group.

Asian Indices	Last Trade	Change in Points	Change in %
Shanghai Composite	3,164.16	-3.59	-0.11
Hang Seng	18,668.15	-407.11	-2.18
Jakarta Composite	6,899.40	18.60	0.27
KLSE Composite	1,424.69	11.17	0.79
Nikkei 225	32,700.94	396.69	1.21
Straits Times	3,265.14	-13.16	-0.40
KOSPI Composite	2,628.53	18.77	0.71
Taiwan Weighted	17,033.61	2.91	0.02

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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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