Asian markets settle mostly higher on Wednesday

07 Feb 2024 Evaluate

Asian markets settled mostly higher on Wednesday, tracking Wall Street gains overnight in spite of hawkish comments from the US Federal Reserve officials. Market sentiments were also supported by a retreat in the US dollar and bond yields from recent highs. Chinese markets gained on a slew of signals that authorities are strengthening their resolve to support slumping markets. The China Securities Regulatory Commission urged companies to step up mergers and acquisitions and restructuring to enhance the value of listed companies. Reports showing that companies have spent more than $4 billion on buybacks after officials called on them to play their part.

Asian Indices	Last Trade	Change in Points	Change in %
Shanghai Composite	2,829.70	40.21	1.42
Hang Seng	16,081.89	-54.98	-0.34
Jakarta Composite	7,235.15	-12.26	-0.17
KLSE Composite	1,513.11	0.13	0.01
Nikkei 225	36,119.92	-40.74	-0.11
Straits Times	3,156.15	30.47	0.97
KOSPI Composite	2,609.58	33.38	1.28
Taiwan Weighted	--	--	--

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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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