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Asian markets trade mostly lower in early deals on Wednesday

27 Sep 2023 Evaluate
Most of the Asian markets traded lower in early deals on Wednesday, as the bets on protracted period of higher interest rates by the central banks spooked global economic slowdown. Moreover, sharp sell-off in technological sector stocks amid firm Treasury bond yield notes and fears over the US government shut down also saddled indices. Japan’s Nikkei dipped to the lowest levels in a month tracking negative global cues. Meanwhile, investor sentiment also dulled as tumbling local currency yen spurred fears about an intervention to prop up the Japanese currency.

Nikkei 225 down 129.40 points 0.40% to 32,185.65, Straits Times slipped 26.39 narrowed or 0.82% to 3,188.68, Taiwan Weighted curtailed 19.68 points or 0.12% to 16,256.39, KOSPI Index decreased 8.00 points or 0.32% to 2,454.97, and FTSE Bursa Malaysia KLCI pressured 5.07 points or 0.37% to 1,440.48.

On the flip side, Hang Seng up 111.03 points or 0.63% to 17,577.93, Jakarta Composite rose by 15.44 points or 0.20% to 6,939.24 and Shanghai Composite widened by 10.27 points or 0.33% to 3,112.54.

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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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