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Asian markets trade in red in early deals on Friday

18 Aug 2023 Evaluate

Asian markets traded in red in early deals on Friday, pressured by the intensified woes over Chinese economy after China Evergrande, country's second biggest property developer filed for bankruptcy in New York. Moreover, investor sentiments dulled with the lack of proper stimulus measures by the Chinese government to support its ailing economy. Additionally, bets on continued hawkish measures by the US Federal Reserve dampened the market sentiments. Japan’s Nikkei also slipped in the session with the hefty sell-off in the market after Japan’s headline inflation rate for July jumped above the forecasts.

Nikkei 225 down 185.71 points or 0.59% to 31,440.29, Straight times dipped by 22.06 points or 0.69% to 3,174.69, Hang Seng slipped by 205.73 points or 1.14% to 18,120.90, KOSPI diminished by 15.25 points or 0.61% to 2,504.60, Taiwan shrunk by 157.36 points or 0.95% to 16,359.30, Jakarta Composite curtailed by 32.20 points or 0.47% to 6,868.34, Shanghai narrowed by 1.77 points or 0.06% to 3,161.97 and FTSE Bursa Malaysia KLCI lower by 2.19 points or 0.15% to 1,445.79.

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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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