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Asian markets trade mostly lower in early deals on Friday

12 Apr 2024 Evaluate
Asian markets traded mostly lower in early deals on Friday, due to risk aversion after the concerns over higher for longer benchmark interest rate intensified after hotter-than-expected US CPI data. Hang Seng tumbled the most among Asian indices, retreating from its 4-week high rate and as investor sentiments dulled ahead of Chinese trade data, worries over potential tariff on Chinese clean energy products and on looming concerns over wiling economy of China. Bucking the trend, Japan’s Nikkei advanced with the rally in techno sector stocks. Stock markets of Indonesia remained closed for Id-Ul-Fitr (Ramadan Eid).

Straits Times down 7.66 points 0.24% to 3,219.95, Hang Seng declined by 295.36 points 1.76% to 16,799.67, KOSPI Index diminished 23.64 points or 0.88% to 2,683.32, Shanghai Composite narrowed by 1.21 points or 0.04% to 3,033.04, and FTSE Bursa Malaysia KLCI declined by 2.92 points or 0.19% to 1,550.59.

 On the flip side, Nikkei 225 up by 116.71 points 0.30% to 39,559.34 and Taiwan Weighted rose 19.92 points or 0.10% to 20,773.14.

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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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