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Asian markets trade mixed in early deals on Tuesday

01 Aug 2023 Evaluate

Asian markets traded mixed in early deals on Tuesday, as it struggled to gain tracking followed by sluggish Chinese factory data of July and on caution ahead to US earnings data this week. However, optimism over rise in global economic prospects amidst easing inflation limited some losses in the session. Japan’s Nikkei advanced in the session as investors braced better than expected Japanese employment data for July. Additionally, the 10-year Japanese government bond yield surged to nine-year highs as the Bank of Japan allowed it to rise above the 0.5% upper limit, lifting market sentiments. 

Nikkei 225 up 304.16 points or 0.92% to 33,476.38, KOSPI buoyed by 21.04 points or 0.80% to 2,653.62, Taiwan higher by 42.97 points or 0.25% to 17,188.40 and Shanghai widened by 3.94 points or 0.12% to 3,294.98.

On the flip side, Hang Seng down by 1.22 points or 0.01% to 20,077.72, Jakarta Composite shrunk by 25.28 points or 0.37% to 6,906.08, Straight times dipped by 4.69 points or 0.14% to 3,369.29, and FTSE Bursa Malaysia KLCI narrowed by 5.75 points or 0.39% to 3,294.98.

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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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