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Asian markets trade mostly higher in early deals on Tuesday

10 Oct 2023 Evaluate
Most of the Asian markets traded higher in early deals on Tuesday, in tandem with the positive lead from Wall Street overnight after the US Fed Vice Chair Philip Jefferson‘s soft toned comments spurred optimism that the central bank might pause interest rate hike for November too.  Meanwhile, investors shrugged off concerns about the impact and risks of a prolonged Israel-Hamas war. Japan’s Nikkei surged as it resumed trading after National Sports Day holiday. Meanwhile, Japan’s current account surplus missed forecasts in August. Bucking the trend China stocks extended losses amid lingering concerns over economic health of the country and as investors side lined from major position taking ahead to this week's trade and inflation data. Albeit, reports on rebound in Chinese domestic tourism in the Golden Week break to the pre-pandemic level, capped some loss in the trade. Stock market of Taiwan is closed for Double Ten Day holiday.

Nikkei 225 up 800.09 points 2.56% to 31,794.76, Straits Times rose by 26.10 points or 0.82% to 3,192.61, Hang Seng added 226.59 points or 1.28% to 17,743.99, KOSPI Index increased 4.52 points or 0.19% to 2,413.25, Jakarta Composite lifted by 47.86 points or 0.69% to 6,939.32, and FTSE Bursa Malaysia KLCI widened 13.94 points or 0.9% to 1,431.20.

On the flip side, Shanghai Composite down by 15.40 points or 0.50% to 3,081.52.

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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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