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Asian markets trade mostly higher in early deals on Friday

23 Feb 2024 Evaluate
Asian markets traded mostly higher in early deals on Friday, kindled by the rally in global indices overnight followed by resilient US economic data and robust outlook for chip giant Nvidia with the AI frenzy. Additionally, weaker crude oil rates also kindled equity investments. China‘s Shanghai advanced after the authorities slashed benchmark interest rates more than expected and implemented various measures to stabilize the stock market. Stock market of Japan is closed for Emperor's Birthday. 

Taiwan Weighted up 71.08 points or 0.38% to 18,923.86, KOSPI Index widened 4.03 points or 0.15% to 2,668.30, Shanghai Composite rose by 0.51 points or 0.02% to 2,988.87 and FTSE Bursa Malaysia KLCI added by 0.99 points or 0.06% to 1,546.48.

On the flip side, Straits Times slipped 42.57 points 1.32% to 3,180.37, Hang Seng dipped 40.63 points 0.24% to 16,702.32, and Jakarta Composite down by 64.40 points or 0.89% to 7,275.24.

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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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