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Asian markets trade mostly lower in early deals on Friday

06 Sep 2024 Evaluate
Asian markets traded mostly lower in early deals on Friday, due to risk aversion ahead to much awaited US jobs data due later today, which could potentially impact the Federal Reserve's interest rate decision this month. Market sentiments dampened with China’s weak economic condition and a slew of disappointing earnings results. Japan’s Nikkei extended losses to the third straight session with the pressure from the rebound of local currency yen. Meanwhile, Japan’s household spending rose less than expected in July, although previous data pointed to rising wages. Stock market of Hong Kong is closed due to typhoon. 

Nikkei 225 down by 249.18 points 0.68% to 36,407.91, KOSPI Index lower by 27.50 points or 1.07% to 2,548.00, , Shanghai Composite dipped by 6.31 points or 0.23% to 2,782.00 and FTSE Bursa Malaysia KLCI curtailed by 7.62 points or 0.46% to 1,657.20.

On the flip side, Straits Times up by 6.17 points 0.18% to 3,464.83, Taiwan Weighted rose by 234.60 points or 1.11% to 21,422.31, and Jakarta Composite buoyed by 50.45 points or 0.65% to 7,731.49.

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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