Asian markets settle mixed on Monday

24 Jun 2024 Evaluate

Asian markets settled mixed on Monday ahead of key US inflation data and comments from Fed officials for additional clues on the outlook for interest rates. Moreover, clash between US Democratic President Joe Biden and Republican former President Donald Trump also weighed on market sentiments. Chinese shares declined after the yuan hit a seven-month low after data showed China's fiscal revenue fell 2.8% in the first five months of 2024 from a year earlier, accelerating from a 2.7% decline in the January-April period. Meanwhile, China and the European Union agreed to start talks on the planned imposition of tariffs on Chinese-made electric vehicles (EVs) being imported into the European market. However, Japanese shares gained as the Bank of Japan's summary of opinions from its June 13-14 policy meeting showed board members debated the need for timely rate hike, while a weaker yen bolstered exporter shares.

Asian Indices	Last Trade	Change in Points	Change in %
Shanghai Composite	2,963.10	-35.04	-1.18
Hang Seng	18,027.71	-0.81	0.00
Jakarta Composite	6,889.16	9.18	0.13
KLSE Composite	1,589.66	-0.71	-0.04
Nikkei 225	38,804.65	208.18	0.54
Straits Times	3,314.14	8.12	0.25
KOSPI Composite	2,764.73	-19.53	-0.71
Taiwan Weighted	22,813.70	-439.69	-1.93

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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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