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Asian markets trade higher in early deals on Monday

06 Nov 2023 Evaluate
Asian markets traded in green in early deals on Monday, kindled by the optimism that Federal reserve’s monetary policy tightening cycle is done followed by the subdued US jobs data. Moreover, Chinese Premier Li Qiang's comments that Beijing would expand access to markets and boost imports buoyed investor confidence. Meanwhile, investors closely awaited for this week’s Chinese trade and inflation figures to gauge the health of the world’s second-largest economy. Japan’s Nikkei soared mirroring positive trend in global indices, and on optimism after the Bank of Japan pledged to patiently maintain its accommodative monetary policy and only made minor adjustments to yield curve controls. Meanwhile, Japanese business activity slowed to a ten-month low in October. Nikkei is trading near its six-week high rate.

Nikkei 225 up by 742.29 points 2.32% to 32,692.18, Straits Times rose 13.54 points or 0.43% to 3,157.20, Hang Seng widened 298.52 points or 1.66 to 17,962.64, KOSPI Index increased 101.08 points or 4.27% to 2,469.42, Taiwan Weighted enlarged 189.53 points or 1.15% to 16,697.18, Jakarta Composite widened by 50.58 points or 0.75% to 6,839.43, Shanghai Composite higher by 26.70 points or 0.87% to 3,057.50 and FTSE Bursa Malaysia KLCI lifted by 11.04 points or 0.76% to 1,460.97.

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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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