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Asian markets trade mostly higher in early deals on Tuesday

10 Sep 2024 Evaluate
Asian markets traded mostly higher in early deals on Tuesday, kindled by the estimations that Federal Reserve will trim interest rates by 25 bps at next week’s meeting, and on optimism ahead to this week’s US CPI data. Rally in technological sector stocks with its global counter partners also whetted local indices. Japan’s Nikkei rebounded from previous sessional loss as it got from a reprieve from the slide of local currency yen, allaying fears about further unwinding of popular carry trades. Albeit, climb in wages robust growth, and persistent inflationary pressures continued to support bets that the Bank of Japan will raise interest rates again before the year ends.

Nikkei 225 up by 156.93 points 0.43% to 36,372.68, Straits Times rose by 12.98 points 0.37% to 3,509.51, Hang Seng added by 49.35 points 0.29% to 17,246.31 Jakarta Composite higher by 28.27 points or 0.37% to 7,731.01, and FTSE Bursa Malaysia KLCI climbed by 5.89 points or 0.36% to 1,657.38

On the flip side, KOSPI Index lower by 1.46 points or 0.06% to 2,534.47, Taiwan Weighted dipped by 139.20 points or 0.66% to 21,005.24, and Shanghai Composite declined by 7.63 points or 0.28% to 2,727.48.

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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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