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Asian markets settle mostly down on Thursday

04 Jan 2024 Evaluate
Asian markets settled mostly down on Thursday, tracking Wall Street shares overnight fall due to doubts over exactly when the US Federal Reserve will begin trimming interest rates. Even as US Fed expected three quarter point rate cuts by the end of 2024. Japanese shares declined as markets reopened after an extended New Year’s holiday during which Japan witnessed a major earthquake and an accident involving Japan Airlines. Further, Chinese shares fell after Fitch downgraded the issuer default ratings of four Chinese national asset management companies and flagged more potential downgrades on hopes of weaker government support and headwinds from a property market slump.

Asian Indices

Last Trade            

Change in Points

Change in %      

Shanghai Composite

2,954.35

-12.90

-0.44

Hang Seng

16,645.98

-0.43

0.00

Jakarta Composite

7,359.76

80.67

1.10

KLSE Composite

1,477.26

14.89

1.02

Nikkei 225

33,288.29

-175.88

-0.53

Straits Times

3,174.01

-25.43

-0.80

KOSPI Composite

2,587.02

-20.29

-0.78

Taiwan Weighted

17,549.65

-9.66

-0.06

About MoneyWorks4Me

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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