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Asian markets trade mixed in early deals on Friday

13 Sep 2024 Evaluate
Asian markets traded mixed in early deals on Friday, saddled by the sharp correction in chipmakers and other tech shares. Even though, optimistic growth-oriented comments from Chinese President Xi Jinping and wide spread hopes on Fed interest rate cut kindled some indices in the session. Japan’s Nikkei dipped as the profit outlook for Japan’s export-heavy industries got hurt with the stronger local currency yen. Moreover, hawkish signals from the Bank of Japan, also saddled investments. While, China’s Shanghai is trading near its seven-month lows.

Nikkei 225 down by 153.10 points 0.42% to 36,680.17, KOSPI Index dipped by 1.83 points or 0.07% to 2,570.26, Jakarta Composite diminished by 2.55 points or 0.03% to 7,795.60, and Shanghai Composite declined by 2.35 points or 0.09% to 2,714. 

On the flip side, Hang Seng enlarged by 167.99 points 0.96% to 17,408.38, Straits Times up by 5.26 points 0.15% to 3,561.79, Taiwan Weighted rose by 76.13 points or 0.35% to 21,729.38, 77 and FTSE Bursa Malaysia KLCI added by 7.94 points or 0.48% to 1,646.25.

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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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