Asian markets end mostly higher on Wednesday

09 Aug 2023 Evaluate

Asian markets ended mostly higher on Wednesday even with caution ahead of US inflation data due this week for clues on future interest rate hikes. US inflation is expected to show an annual 3.3 percent in July, up from 3 percent in the previous month. However, Chinese shares dropped due to worries over slowing growth in the world's second largest economy. China reported a 0.3% drop in consumer prices in July from a year ago, and a 4.4% year-on-year drop in producer prices in July, data showed. Japanese shares declined by tracking Wall Street ‘s overnight fall due to Moody’s downgrades in credit rating of some US banks.

Asian Indices	Last Trade	Change in Points	Change in %
Shanghai Composite	3,244.49	-16.13	-0.50
Hang Seng	19,246.03	61.86	0.32
Jakarta Composite	6,875.11	6.30	0.09
KLSE Composite	1,462.03	11.03	0.76
Nikkei 225	32,204.33	-172.96	-0.54
Straits Times	--	--	--
KOSPI Composite	2,605.12	31.14	1.20
Taiwan Weighted	16,870.94	-6.13	-0.04

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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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