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Asian markets trade mostly lower in early deals of Tuesday

16 Jul 2024 Evaluate
Most of the Asian markets traded lower in early deals of Tuesday, due to risk aversion in the market as ‘Third Plenum’ a four-day policy meeting started on Monday. Meanwhile, chances of Donald Trump winning a second term rose after Saturday’s shooting, spurred more tariff threats for emerging markets including Asia. Losses in battery makers saddled auto-mobile sector. Additionally, sluggish Chinese GDP data in Q2 continued to pressure sentiment. Hang Seng plunged for second session in a row with the profit taking in major sectors. Bucking the trend Japan’s Nikkei rebounded in its post-holiday trade in tandem with the positive Wall Street overnight.

Straits Times down by 9.17 points 0.26% to 3,490.72, Hang Seng tumbled by 245.98 points 1.38% to 17,769.96, Jakarta Composite slower by 33.21 points or 0.46% to 7,245.65, Shanghai Composite up by 6.16 points or 0.21% to 2,967.85, FTSE Bursa Malaysia KLCI dipped by 3.90 points or 0.24% to 1,625.92.

On the flip side, Nikkei 225 rose by 81.42 points 0.20% to 41,272.10, Taiwan Weighted up by 21.85 points or 0.09% to 23,901.21, and KOSPI Index increased by 6.68 points or 0.23% to 2,867.60.

About MoneyWorks4Me

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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To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.

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