Asian markets settle mixed on Friday

12 Jul 2024 Evaluate

Asian markets settled mixed on Friday as a surprisingly soft US inflation data fuelled bets for a September rate cut, while former President Donald Trump leading in new 2024 election poll that showed only 24% of voters think Biden is mentally sharp. Chinese shares gained marginally after the release of mixed trade data. China's exports rose 8.6% year-on-year by value in June, while imports dropped 2.3%, customs data revealed. Hong Kong shares jumped after Chinese securities regulator announced fresh curbs on short-selling to bolster market sentiment. Meanwhile investors were awaiting next week's Third Plenum meeting. Japanese shares declined as the yen strengthened with speculation that Japanese authorities may have again intervened in forex markets to prop up the ailing currency.

Asian Indices	Last Trade	Change in Points	Change in %
Shanghai Composite	2,971.30	0.91	0.03
Hang Seng	18,293.38	461.05	2.52
Jakarta Composite	7,327.58	27.17	0.37
KLSE Composite	1,619.06	-4.06	-0.25
Nikkei 225	41,190.68	-1,033.34	-2.51
Straits Times	3,497.78	22.72	0.65
KOSPI Composite	2,857.00	-34.35	-1.20
Taiwan Weighted	23,916.93	-473.10	-1.98

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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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