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Asian markets settle mostly down on Monday

08 Jan 2024 Evaluate
Asian markets settled mostly down on Monday ahead of the release of US consumer price inflation and producer price inflation data this week, while uncertainty about the timing and pace of US interest rate cuts dampened sentiments. Persisted middle east worries also weighed on Asian shares. Seoul shares declined on caution ahead of the Bank of Korea's interest rate decision, due on Thursday. Japanese market was shut for the Coming-of-Age Day holiday. Chinese and Hong Kong shares declined as China announced sanctions against five American defense-related firms in response to US arms sales to Taiwan and US sanctions on Chinese firms and individuals. Meanwhile, Chinese shadow banking conglomerate Zhongzhi Enterprise Group filed for bankruptcy liquidation late Friday due to its inability to repay debt amidst a deepening property crisis in China. 

Asian Indices

Last Trade            

Change in Points

Change in %      

Shanghai Composite

2,887.54

-41.64

-1.44

Hang Seng

16,224.45

-310.88

-1.92

Jakarta Composite

7,283.58

-67.04

-0.92

KLSE Composite

1,495.70

8.09

0.54

Nikkei 225

--

--

--

Straits Times

3,187.02

2.72

0.09

KOSPI Composite

2,567.82

-10.26

-0.40

Taiwan Weighted

17,572.66

53.52

0.30

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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