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Asian markets trade mostly higher in early deals on Tuesday

17 Sep 2024 Evaluate
Asian markets traded mostly higher in early deals on Tuesday, whetted by the risk appetite in the market with optimism over 50 bps rate cut ahead to FOMC meeting decision. Investors also closely eyed on later today’s US retail sales data for August. Hang Seng extended winning streak to fourth straight session and is trading near two-week high level. Investors also braced news that Hong Kong is preparing rules for AI use in finance, and official statement could be released around late October during Fintech Week, one of the industry’s most important annual events. Bucking the trend Japan’s Nikkei tumbled after megacap US tech names came under pressure overnight, with Apple leading the decline amid concerns about iPhone 16 sales. Stock markets of China, Taiwan, and South Korea are closed for a holiday.

Hang Seng up by 250.79 points 1.42% to 17,672.91, Straits Times rose by 22.16 points 0.62% to 3,592.59, Jakarta Composite diminished by 6.87 points or 0.09% to 7,819.00, and FTSE Bursa Malaysia KLCI added by 11.58 points or 0.70% to 1,663.73. 

On the flip side, Nikkei 225 tumble by 569.08 points 1.56% to 36,012.68.

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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