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Asian markets trade mostly higher in early deals on Wednesday

13 Mar 2024 Evaluate
Asian markets traded mostly higher in early deals on Wednesday, mirroring gains in the global indices overnight buoyed by the rally in technology sector stocks amidst enthusiasm over artificial intelligence and solid corporate outlooks. Weakening crude oil rates also kindled equity investments. Meanwhile, hotter-than-expected US inflation data that came ahead of a monetary policy meeting from the Fed next week clouded early interest rate cut outlook. Hang Seng continued to advance after its previous session three and half month peak hit. 

Hang Seng up by 45.25 points 0.26% to 17,138.75, Straits Times rose 17.29 points 0.55% to 3,158.76, Taiwan Weighted widened 22.96 points or 0.12% to 19,937.51, KOSPI Index added 7.05 points or 0.26% to 2,688.86, and Jakarta Composite buoyed by 27.81 points or 0.38% to 7,409.72.

On the flip side, Nikkei 225 down by 53.11 points 0.14% to 38,744.40, and Shanghai Composite dipped by 8.35 points or 0.27% to 3,047.59, FTSE Bursa Malaysia KLCI lower by 14.86 points or 0.96% to 1,539.70

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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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