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Asian markets trade in red in early deals on Wednesday

04 Oct 2023 Evaluate
Asian markets traded in red in early deals on Wednesday, as the upbeat US jobs data, soaring Treasury bond yield notes, oil price rally and firming dollar spurred fears about more hawkish stance by Federal Reserve. Investor sentiments also dulled with the woes over China’s weak economic recovery with the wilting property market. Stock market of China is still closed for National Day holiday. Japan’s Nikkei tumbled with the negative global indices overnight and as local currency yen bounced back unexpectedly.

Nikkei 225 down 496.53 points 1.59% to 30,741.41, Straits Times slipped 44.82 narrowed or 1.40% to 3,147.53, Hang Seng narrowed 179.61 points or 1.05% to 17,151.61, Taiwan Weighted curtailed 179.70 points or 1.09% to 16,274.64, KOSPI Index decreased 52.52 points or 2.13% to 2,412.55, Jakarta Composite slipped by 59.78 points or 0.86% to 6,881.11 and FTSE Bursa Malaysia KLCI diminished 5.16 points or 0.36% to 1,414.85.

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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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