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Asian markets trade mostly higher in early deals on Thursday

08 Feb 2024 Evaluate
Asian markets traded mostly higher in early deals on Thursday, as the investor sentiments improved followed by the drop of consumer prices in China in January marking the lowest since September 2009 amidst a record fall in the cost of food. Moreover, Chinese monetary easing bets accelerated with the continued deflationary pressures. Japan’s Nikkei soared the most among Asian indices mirroring positive Wall Street overnight. Softer local currency yen also lifted the foreign investments. Stock market of Taiwan is closed for Chinese New Year holiday, while Indonesia is closed for Al Isra' wal-Mi'raj holiday.

Nikkei 225 up by 789.70 points or 2.19% to 36,909.62, KOSPI Index rose 4.31 points or 0.17% to 2,613.89, Shanghai Composite widened by 34.26 points or 1.24% to 2,863.96, and FTSE Bursa Malaysia KLCI enlarged by 2.55 points or 0.17% to 1,515.66.

On the flip side, Straits Times down 9.35 points 0.30% to 3,146.80, and Hang Seng narrowed 154.11 points 0.96% to 15,927.78.

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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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