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Asian markets trade mixed on Tuesday

19 Mar 2024 Evaluate
Asian markets traded mixed on Tuesday, due to risk aversion in the market ahead to key policy meeting of central banks like Federal Reserve, Reserve Bank of Australia and Bank of England. Investor sentiments got saddled on intensified woes over Chinese economy after its industrial output jumped more than expected in the first two months of 2024 amidst sluggish retail sales and a rise in the jobless rate. Meanwhile, Japan’s Nikkei advanced after BoJ announced interest rate hike, due to rising wages, high inflation and a stable economy. The BOJ hiked interest rates by 0.1% its first such move in 17 years, albeit affirmed to remain largely accommodative. 

Nikkei 225 up by 163.32 points 0.41% to 39,903.76, Straits Times rose 1.24 points 0.04% to 3,173.17, Taiwan Weighted widened 22.07 points or 0.11% to 19,901.92, and Jakarta Composite buoyed by 41.68 points or 0.57% to 7,344.13.

Hang Seng down by 186.22 points 1.13% to 16,550.90, KOSPI Index reduced 31.04 points or 1.16% to 2,654.80, Shanghai Composite increased by 11.90 points or 0.39% to 3,073.03 and FTSE Bursa Malaysia KLCI lower by 3.64 points or 0.23% to 1,550.00.

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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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