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Asian markets trade in green in early deals on Monday

19 Aug 2024 Evaluate
Asian markets traded in green in early deals on Monday, as the better-than-expected US retail sales data and improving US consumer sentiment kindled hopes about soft landing of US economy tackling its inflation. Federal Reserve interest rate cut bets are also in focus. Hang Seng advanced the most among Asian indices in the session, as investor sentiments boosted with the market expectations that Beijing would add fiscal stimulus in H2 of the year. Investors also braced for the annual meeting for global central bankers at Jackson Hole later this week. 

Hang Seng up by 174.27 points 1% to 17,604.43, Taiwan Weighted rose by 6.59 points or 0.03% to 22,355.92, Jakarta Composite added by 4.03 points or 0.05% to 7,436.12, Shanghai Composite lifted by 12.04 points or 0.42% to 2,891.47, and FTSE Bursa Malaysia KLCI enlarged by 17.83 points or 1.10% to 1,641.73.

On the flip side, Nikkei 225 down by 552.44 points 1.45% to 37,510.23, Straits Times slipped by 1.69 points 0.05% to 3,351.20, and KOSPI Index dipped by 21.41 points or 0.79% to 2,675.82.

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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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