Asian markets end mixed on Tuesday

23 Jul 2024 Evaluate

Asian markets ended mixed on Tuesday after a rally on Wall Street shares overnight and ahead of US GDP and inflation readings this week for further cues on the interest rate trajectory. Meanwhile, market sentiments were stabilized as semiconductor shares rebounded ahead of big earnings from US technology firms, with Tesla and Google set to report their financial results later in the day. Seoul shares gained led by tech and auto shares. Chinese and Hong Kong shares declined after China's third plenum communique failed to address key economic issues, while a surprise rate cut by China's central bank put the spotlight on the country's economic weakness. Japanese markets ended flat, while the Japanese yen strengthened ahead of the Bank of Japan's policy meeting next week, with no change in interest rates expected.

Asian Indices	Last Trade	Change in Points	Change in %
Shanghai Composite	2,915.37	-48.85	-1.68
Hang Seng	17,469.36	-166.52	-0.95
Jakarta Composite	7,313.86	-8.12	-0.11
KLSE Composite	1.629.68	7.61	0.47
Nikkei 225	39,594.39	-4.61	-0.01
Straits Times	3,461.16	23.90	0.69
KOSPI Composite	2,774.29	10.78	0.39
Taiwan Weighted	22,871.84	614.85	2.69

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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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