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Asian markets trade higher in early deals on Thursday

24 Aug 2023 Evaluate

Asian markets were trading higher on Thursday tracking Wall street gains overnight, even with caution ahead of US Fed Chair Jerome Powell's speech at the Jackson Hole Symposium for more clues about the economy and interest-rate outlook. Meanwhile, tepid US PMI data fuelled expectation the US central bank would end its tightening campaign to avert a recession. Japanese shares gained after major chipmaker Nvidia Corp logged stronger-than-expected quarterly earnings. However, persistent concerns over Chinese economic slowdown limited further gains in Asian equities.

Nikkei 225 up 263.91 points or 0.82% to 32,274.17, Straight times rose by 5.23 points or 0.16% to 3,179.41, Hang Seng gained by 373.44 points or 2.09% to 18,219.36, Taiwan higher by 196.13 points or 1.18% to 16,773.03, KOSPI enlarged by 27.28 points or 1.08% to 2,532.78, Jakarta Composite rose marginally by 2.37 points or 0.03% to 6,923.78, Shanghai added 19.47 points or 0.63% to 3,097.92, and FTSE Bursa Malaysia KLCI higher by 3.65 points or 0.25% to 1,443.76.

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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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