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Asian markets trade mostly lower in early deals on Wednesday

31 Jan 2024 Evaluate
Asian markets traded mostly lower in early deals on Wednesday, saddled by the risk aversion ahead to later today’s Fed decision on interest rate, as well as a slew of key economic data from Japan, US and China. Continued rise in crude oil rates with the lingering Middle East tensions also pressured equity investments. Selling of in technological sector stocks after disappointing quarterly reports. Hang Seng tumbled the most among Asian indices followed by negative manufacturing activity of China for the fourth consecutive month in January.

Hang Seng down 159.32 points 1.02% to 15,544.13, Straits Times declined 0.19 points 0.01% to 3,149.85, KOSPI Index diminshed 4.77 points or 0.19% to 2,494.04, Taiwan Weighted narrowed 145.96 points or 0.81% to 17,888.67, Shanghai Composite curtailed by 10.62 points or 0.38% to 2,819.91,

On the flip side, Nikkei 225 up by 31.88 points or 0.09% to 36,097.74, Jakarta Composite enlarged by 18.89 points or 0.26% to 7,211.11. and FTSE Bursa Malaysia KLCI widened by 0.67 points or 0.04% to 1,513.42.

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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