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Asian markets trade mostly lower in early deals on Friday

21 Jun 2024 Evaluate
Asian markets traded mostly lower in early deals on Friday, mirroring negative Wall Street overnight. Market sentiments dulled after the warning from China's central bank about weaker credit growth in the nation. China’s uneven economic recovery and the lack of forceful policy support also added concerns in the market. Notable losses from chipmakers also saddled Asian indices. Japan’s Nikkei also retreated after stronger local currency yen. While, China’s Shanghai is set to decline for the sixth straight week.

Nikkei 225 down by 3.38 points 0.01% to 38,629.64, Hang Seng reduced by 313.76 points 1.74% to 18,021.56, KOSPI Index declined by 25.56 points or 0.91% to 2,782.07, Taiwan Weighted diminished by 171.09 points or 0.73% to 23,235.01, and Shanghai Composite curtailed 11.87 points or 0.40% to 2,993.57.

On the flip side, Straits Times up by 7.70 points 0.23% to 3,307.70, Jakarta Composite lifted by 113.77 points or 1.67% to 6,933.09, and FTSE Bursa Malaysia KLCI added 2.37 points or 0.15% to 1,595.06

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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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