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Asian markets trade mostly lower in early deals on Monday

08 Jan 2024 Evaluate
Most of the Asian markets traded lower in early deals on Monday, as the Fed interest rate outlook got scaled down after better than expected non-payroll data for December. Meanwhile, investors closely awaited for inflation data due this week. Trading volumes in Asian markets remained trimmed with a market holiday in Japan. Shanghai extended their new year’s losses amidst lingering concerns about the wilting economy. Chinese trade and inflation numbers are ought to be released this week. Hang Seng tumbled the most among Asian indices as it extended losing streak to second straight session.

Hang Seng declined 337.99 points 2.09% to 16,197.34, Jakarta Composite down by 28.27 points or 0.38% to 7,322.35, KOSPI Index narrowed 7.35 points or 0.29% to 2,570.73, and Shanghai Composite decreased by 26.78 points or 0.92% to 2,902.40.

On the flip side, Straits Times up 3.14 points or 0.10% to 3,187.44, Taiwan Weighted rose 73.86 points or 0.42% to 17,593.00, and and FTSE Bursa Malaysia KLCI added by 8.24 points or 0.55% to 1,495.85.

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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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