Asian markets settle mostly down on Friday

20 Oct 2023 Evaluate

Asian markets settled mostly down on Friday tracking Wall Street’s overnight fall on escalating Middle East tensions, while souring crude oil prices also dampened market sentiments. Market sentiments weakened further as US 10-year bond yields surged to 16-year high near 5 percent after US Fed Chair Jerome Powell warned that inflation is still too high and additional monetary policy tightening may be needed. Chinese shares declined, even after the People's Bank of China kept its benchmark lending rates unchanged at the monthly fixing as the economy showed signs of stabilisation. Moreover, Japanese shares fell, despite data showing that Japan's core inflation in September dropped below 3 percent for the first time in more than a year.

Asian Indices	Last Trade	Change in Points	Change in %
Shanghai Composite	2,983.06	-22.33	-0.75
Hang Seng	17,172.13	-123.76	-0.72
Jakarta Composite	6,849.17	2.74	0.04
KLSE Composite	1,441.04	-1.62	-0.11
Nikkei 225	31,259.36	-171.26	-0.55
Straits Times	3,076.69	-22.91	-0.74
KOSPI Composite	2,375.00	-40.80	-1.72
Taiwan Weighted	16,440.72	-12.01	-0.07

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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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