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Asian markets trade mostly lower in early deals on Tuesday

03 Sep 2024 Evaluate
Asian markets traded mostly lower in early deals on Tuesday, as participants sidelined ahead to US economic data for more clarity on the Federal Reserve’s interest rate cut. ISM surveys, JOLTS job openings, ADP employment report, and non-farm payrolls from US are due this week. Investor sentiments also dulled followed by official reports on further dip in August manufacturing activity of China and on lack of fresh government stimulus. Disappointing corporate earnings reports from Chinese companies also resulted withdrawal of funds. Japan’s Nikkei retreated from one-month highs after subdued Japanese manufacturing data and on narrowed foreign inflows with the stronger local currency yen.
 
Nikkei 225 down by 11.43 points 0.03% to 38,689.44, Taiwan Weighted dipped by 95.82 points or 0.43% to 22,139.28, Hang Seng shrunk by 64.92 points 0.37% to 17,627.05, KOSPI Index fell 6.70 points or 0.25% to 2,674.30, Jakarta Composite rose 48.56 points or 0.65% to 7,645.97, Shanghai Composite narrowed by 14.56 points or 0.52% to 2,796.48, and FTSE Bursa Malaysia KLCI curtailed by 1.61 points or 0.10% to 1,676.58.

On the flip side, Straits Times up by 12.05 points 0.35% to 3,475.13.

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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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