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Asian markets trade mostly lower in early deals on Thursday

09 May 2024 Evaluate

Most of the Asian markets traded lower in early deals on Thursday, saddled by the woes over uncertainty in Fed interest trim timeline ahead of key US inflation data and weekly jobless claims. Strong crude oil rates also pressured equity investments. Japan’s Nikkei edged down followed by subdued wage growth of the country in March, challenging the BOJ’s forecast of a ‘virtuous cycle’ of increasing wages and prices. Some losses were trimmed with the gains in exports amidst weaker local currency yen. Stock market of Indonesia is closed for Ascension Day.

Nikkei 225 down by 16.57 points or 0.04% to 38,185.80, Taiwan Weighted lower by 72.78 points or 0.35% to 20,627.73, KOSPI Index narrowed by 32.32 points or 1.18% to 2,712.73 and FTSE Bursa Malaysia KLCI diminished 4.28 points or 0.27% to 1,600.47.

On the flip side, Straits Times up by 1.24 points 0.04% to 3,265.77, Hang Seng lifted by 196.01 points 1.06% to 18,509.87, and Shanghai Composite buoyed by 23.72 points or 0.76% to 3,152.20.


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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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