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Asian markets trade mixed in early deals on Wednesday

10 Apr 2024 Evaluate
Asian markets traded mixed in early deals on Wednesday, in the thin holiday trade with major markets closed for a holiday. Market participants sidelined ahead of closely watched key US inflation data and Fed meeting minutes due later today. Tech sector stocks were in rally, while financial and oil stocks traded mixed in the indices. Japan’s Nikkei retreated after two straight sessional gains followed by the hotter producer inflation data of Japan for March. Producer prices in Japan rose by 0.8% YoY in March, accelerating from an upwardly revised 0.7% gain in February and posting the highest reading since October last year. Bucking the trend Hang Seng soared to a four week high rate. Stock markets of Singapore, Indonesia and Malaysia are closed for Id-Ul-Fitr (Ramadan Eid).

Nikkei 225 down by 138.52 points 0.35% to 39,634.61, and Shanghai Composite decreased by 14.78 points or 0.48% to 3,034.99.

On the flip side, Hang Seng up by 323.88 points 1.92% to 17,151.95, and Taiwan Weighted rose 13.22 points or 0.06% to 20,809.42.

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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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