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Asian markets trade mostly higher in early deals on Monday

06 May 2024 Evaluate

Most of the Asian markets traded higher in early deals on Monday, as the cooler than expected April employment data and sluggish service activity from US kindled hopes about Fed interest rate cuts later this year. Shanghai stocks soared the most among Asian indices hitting fresh multi-month highs. Market sentiments got boosted after Caixin data reported that April private sector growth in China registered an 11-month high as both manufacturing and services activities continued expansionary trend. Stock market of Japan and South Korea are closed for holidays.

Straits Times rose by 8.52 points 0.26% to 3,301.45, Taiwan Weighted enlarged by 208.32 points or 1.02% to 20,538.64, Jakarta Composite jumped by 16.20 points or 0.23% to 7,150.92, Shanghai Composite buoyed by 32.54 points or 1.04% to 3,137.36 and FTSE Bursa Malaysia KLCI up 4.39 points or 0.28% to 1,593.98.

On the flip side, Hang Seng down by 9.01 points 0.05% to 18,466.91.

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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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