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Asian markets trade mostly lower in early deals on Tuesday

04 Jun 2024 Evaluate
Most of Asian markets traded lower in early deals on Tuesday, saddled by the risk aversion ahead of Chinese services activity data on Wednesday and trade figures on Friday for more cues of health of the second largest economy. Market sentiments dulled after disappointing US manufacturing data globally. Japan’s Nikkei retreated from previous two sessional gains due to cautiousness ahead to this week’s Japanese wage and household spending data which is capable of influencing the outlook for domestic monetary policy. 

Nikkei 225 down by 42.24 points 0.11% to 38,880.79, Straits Times slipped by 4.85 points 0.14% to 3,344.02, Taiwan Weighted fell 150.22 points or 0.70% to 21,386.54, KOSPI Index declined 10.75 points or 0.40% to 2,671.77, Shanghai Composite was down by 1 0.60 5.79 points or 0.02% to 3,077.89.
 
On the flip side, Hang Seng added by 38.55 points 0.21% to 18,441.59, Jakarta Composite surged 102.93 points or 1.46% to 7,139.12, and FTSE Bursa Malaysia KLCI rose by 11.49 points or 0.72% to 1,608.17.

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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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