Asian markets settle mostly higher on Wednesday

31 Jul 2024 Evaluate

Asian markets settled mostly higher on Wednesday as investors looked ahead to US Federal Reserve meeting later in the day for further clarity regarding when the Fed will begin cutting interest rates. Japanese shares rallied and the yen turned volatile after the country's central bank hiked its key interest rate to 0.25% in a surprise move and announced plans to reduce its massive bond-buying program. Meanwhile, the Biden administration planned to exempt chip equipment makers from Japan, the Netherlands and South Korea from upcoming export restrictions. Chinese and Hong Kong shares rebounded as soft Chinese PMI fuelled bets on more stimulus measures.

Asian Indices	Last Trade	Change in Points	Change in %
Shanghai Composite	2,938.75	59.45	2.02
Hang Seng	17,344.60	341.69	1.97
Jakarta Composite	7,255.76	13.90	0.19
KLSE Composite	1,625.57	13.63	0.85
Nikkei 225	39,101.82	575.87	1.47
Straits Times	3,455.94	14.17	0.41
KOSPI Composite	2,770.69	32.50	1.17
Taiwan Weighted	22,199.35	-24.22	-0.11

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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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