Asian markets settle mixed on Friday

26 Jul 2024 Evaluate

Asian markets settled mixed on Friday after data showed the US economy grew at an estimated 2.8% annual rate from April through June, double the rate from the prior quarter, while investors were awaiting the release of the PCE index and the Fed's policy meeting next week. Japanese shares declined, and the yen stabilized near a 12-week high against the US dollar ahead of next week's Bank of Japan policy meeting, where a 10-bps interest rate hike may be on the table. Taiwan shares tumbled as markets reopened from a two-day typhoon market closure.

Asian Indices	Last Trade	Change in Points	Change in %
Shanghai Composite	2,890.90	4.16	0.14
Hang Seng	17,021.31	16.34	0.10
Jakarta Composite	7,288.17	47.89	0.66
KLSE Composite	1,612.88	-2.30	-0.14
Nikkei 225	37,667.41	-202.10	-0.54
Straits Times	3,426.47	-3.98	-0.12
KOSPI Composite	2,731.90	21.25	0.78
Taiwan Weighted	22,119.21	-752.63	-3.40

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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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