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Asian markets trade mostly lower in early deals on Monday

02 Sep 2024 Evaluate
Asian markets traded mostly lower in early deals on Monday, saddled by the risk aversion in the market after Chinese factory activity data plunged for the fourth straight month in August. Profit taking in most sectors after last week’s rally also dulled indices. Hang Seng tumbled from previous week’s one and half month high hit, as a better-than-expected Caixin manufacturing PMI data in August missed to reverse sentiment after an official gauge of factory activity shrank for a fourth straight month.
 
Nikkei 225 down by 13.21points 0.03% to 38,634.54, Taiwan Weighted dipped by 39.90 points or 0.18% to 22,228.19, Hang Seng tumbled by 318.35 points 1.80% to 17,670.72, Shanghai Composite plunged by 17.71 points or 0.63% to 2,824.50, and FTSE Bursa Malaysia KLCI curtailed by 1.61 points or 0.10% to 1,677.19.

On the flip side, Straits Times buoyed by 14.27 points 0.41% to 3,457.20, KOSPI Index higher by 9.55 points or 0.36% to 2,683.86, and Jakarta Composite added by 33.29 points or 0.43% to 7,704.02.

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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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