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Asian markets trade mixed in early deals on Monday

26 Aug 2024 Evaluate
Asian markets traded mixed in early deals on Monday, with the stocks struggling for clear direction. Profit taking after the previous sessional rally with optimism after Federal Reserve Chair Jerome Powell affirmed interest rate cuts at Jackson Hole speech. Sluggish Chinese economic outlook and caution ahead to Saturday’s August PMI data of China also pressured investments. Japan’s Nikkei slipped with the liquidation of foreign funds amidst stronger local currency yen.

Nikkei 225 down by 379.60 points 0.99% to 37,984.67, Straits Times slipped by 2.31 points 0.07% to 3,385.68, KOSPI Index declined by 8.56 points or 0.32% to 2,693.13, and Shanghai Composite diminished by 2.03 points or 0.07% to 2,852.34.

On the flip side, Hang Seng up by 116.18 points 0.66% to 17,728.28, Taiwan Weighted jumped by 118.75 points or 0.25% to 22,213.89, Jakarta Composite rose by 31.50 points or 0.42% to 7,575.80, and FTSE Bursa Malaysia KLCI lifted by 2.30 points or 0.14% to 1,638.04.

About MoneyWorks4Me

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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