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Asian markets settle down on Thursday

25 Jul 2024 Evaluate
Asian markets settled down on Thursday ahead of the release of US GDP and PCE price index data, which could offer more clues on when the US central bank will cut interest rates this year and by how much. Market sentiments weakened further on Wall Street’s overnight fall as disappointing earnings from Tesla and Alphabet prompted investors to pull back on the artificial-intelligence frenzy. Japanese shares led regional losses as the yen rose to its strongest level against the dollar in 2-1/2 months ahead of a Bank of Japan policy meeting next week, where a rate hike may be on the table. Seoul shares dropped by tracking sell-off in megacap US technology shares and after data showed South Korea's economy contracted in the second quarter. Chinese shares dipped, even as China’s central bank surprised markets again by cutting another key policy rate to try to offset a weakening economy and a housing market crisis.

Asian Indices

Last Trade            

Change in Points

Change in %      

Shanghai Composite

2,886.74

-15.21

-0.53

Hang Seng

17,004.97

-306.08

-1.80

Jakarta Composite

7,240.28

-22.48

-0.31

KLSE Composite

1,615.18

-5.96

-0.37

Nikkei 225

37,869.51

-1,285.34

-3.39

Straits Times

3,430.45

-30.37

-0.89

KOSPI Composite

2,710.65

-48.06

-1.77

Taiwan Weighted

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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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