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Asian markets trade mostly higher in early deals on Tuesday

12 Mar 2024 Evaluate
Asian markets traded mostly higher in early deals on Tuesday, kindled by the optimism in the market ahead of a slew of key economic data, including reports on consumer and producer price inflation, which aids to gauge on Fed interest rate outlook. Additionally, weaker crude oil rates also kindled equity investments. Hang Seng surged in the session to a two-week high hit after investors cheered PBoC’s pledge to keep prices stable, bets on cuts in RRR this year and as Beijing kept GDP growth target of about 5%. Bucking the trend Japan’s Nikkei plunged to three week low level. Stock market of Indonesia is closed for Hindu Saka New Year holiday.

Hang Seng surge by 282.64 points 1.68% to 16,870.21, Straits Times up 10.09 points 0.32% to 3,148.51, Taiwan Weighted rose 158.05 points or 0.80% to 19,884.13, KOSPI Index added13.04 points or 0.49% to 2,672.88 and FTSE Bursa Malaysia KLCI higher by 5.16 points or 0.33% to 1,549.87.

On the flip side, Nikkei 225 down by 224.51 points 0.58% to 38,595.98, and Shanghai Composite dipped by 14.34 points or 0.47% to 3,054.12.

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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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