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Asian markets end mostly higher on Monday

13 May 2024 Evaluate
Asian markets ended mostly higher on Monday despite caution ahead of key US inflation data and Fed Chair Jerome Powell's speech due this week that might shed additional light on the outlook for interest rates. Hong Kong shares gained as China's finance ministry said that it will start selling the first batch of 1 trillion yuan ($138 billion) of ultra-long special sovereign bonds on Friday to help stimulate key sectors. However, Chinese shares declined after the release of weak Chinese lending data and news that the US government plans to raise tariffs on a raft of Chinese exports. Japanese shares fell ahead of Q1 GDP data due to be released on Thursday. The Bank of Japan said it would cut its purchases of long-term Japanese government bonds at each of its funds-supplying operations.

Asian Indices

Last Trade            

Change in Points

Change in %      

Shanghai Composite

3,148.02

-6.53

-0.21

Hang Seng

19,115.06

151.38

0.79

Jakarta Composite

7,099.26

10.46

0.15

KLSE Composite

1,602.91

2.24

0.14

Nikkei 225

38,104.29

-124.82

-0.33

Straits Times

3,303.66

12.96

0.39

KOSPI Composite

2,716.73

-10.90

-0.40

Taiwan Weighted

20,826.85

118.01

0.57

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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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