Asian markets settle mostly lower on Wednesday

18 Oct 2023 Evaluate

Asian markets settled mostly lower on Wednesday due to heightened geopolitical tensions in the Middle East after a deadly missile attack on Al-Ahli Baptist Hospital in Gaza killed more than 500 peoples. Chinese shares fell sharply even after a slew of Chinese data topped forecasts. China posted 4.9% growth in the July to September quarter from a year earlier, stronger than the median forecast for 4.6%. Retail sales and industrial output figures for September were also more robust than expected, while fixed asset investment and property investment figures for the first nine months of 2023 disappointed investors. Japanese shares ended flat due to possibility of a more hawkish Fed, while Japanese yen jumped briefly after the Japanese central bank announced unscheduled bond purchases to stem a rise in yields.

Asian Indices	Last Trade	Change in Points	Change in %
Shanghai Composite	3,058.71	-24.79	-0.81
Hang Seng	17,732.52	-40.82	-0.23
Jakarta Composite	6,927.91	-11.71	-0.17
KLSE Composite	1,446.54	2.41	0.17
Nikkei 225	32,042.25	1.96	0.01
Straits Times	3,136.62	-35.21	-1.12
KOSPI Composite	2,462.60	2.43	0.10
Taiwan Weighted	16,440.91	-201.64	-1.23

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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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