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Asian markets trade mostly lower in early deals on Tuesday

27 Aug 2024 Evaluate
Most of Asian markets traded lower in early deals on Tuesday, saddled by risk aversion ahead to later today’s US consumer confidence numbers for August and key US inflation data due later in the week. Moreover, profit selling in tech sector stocks with the dip in chipmakers, automakers and semiconductors also pressured local indices. China’s Shanghai composite retreated after Canada announced that it may join the US and Europe in slapping China-made EVs with massive tariffs. Moreover, market players side-lined ahead to August PMI figures of China due on Saturday for further insights on the health of world’s second-largest economy.

Straits Times slipped by 9.98 points 0.29% to 3,386.05, KOSPI Index declined by 8.01 points or 0.30% to 2,690.00, Hang Seng down by 48.41 points 0.27% to 17,750.32, Taiwan Weighted narrowed by 82.39 points or 0.37% to 22,157.73, Jakarta Composite curtailed by 49.64 points or 0.65% to 7,556.56, and Shanghai Composite diminished by 10.15 points or 0.36% to 2,845.37.

On the flip side, Nikkei 225 up by 51.28 points 0.13% to 38,161.50, and FTSE Bursa Malaysia KLCI lifted by 11.71 points or 0.71% to 1,650.67.

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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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