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Asian markets trade in red on Thursday

21 Sep 2023 Evaluate
Asian markets traded in red on Thursday, as the investor sentiments got dampened after Federal Reserve Chairman warned about another rate hike before the end of the year and on keeping interest rates at an elevated level through 2024. Meanwhile, the People’s Bank of China also left its one-year and five-year loan prime rates unchanged at 3.45% and 4.2%, respectively. Japan’s Nikkei tumbled in the session in tandem with negative cues from global indices. Moreover, caution ahead to Bank of Japan’s monetary policy decision on Friday also dulled the equity investments.

Nikkei 225 down 428.76 points 1.32% to 32,595.02, Straits Times narrowed 34.06 points or 1.05% to 3,207.94, Hang Seng dipped 234.16 points or 1.33% to 17,651.44, Taiwan Weighted declined 216.51 points or 1.31% to 16,318.24, KOSPI Index decreased 39.49 points or 1.54% to 2,520.25, Jakarta Composite shrunk by 21.80 points or 0.31% to 6,989.88, Shanghai Composite diminished by 18.26 points or 0.59% to 3,090.31 and FTSE Bursa Malaysia KLCI slipped 3.40 points or 0.23% to 1,448.16.

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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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