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Asian markets trade mostly lower in early deals on Thursday

03 Oct 2024 Evaluate
Asian markets traded mostly lower in early deals on Thursday, due to risk aversion in the market amidst deepening Middle East crisis with the Iranian missile strikes. Hang Seng tumbled the most among Asian indices on account of profit taking after its previous sessional sharpest single day gain in two years. Bucking the trend Japan’s Nikkei rallied as yen dipped to a one-month low, boosting shares of export-heavy Japanese companies. Prime Minister Shigeru Ishiba’s announcement about additional interest rate hikes after meeting with Bank of Japan Governor Kazuo Ueda, pressured local currency yen. Stock markets of China and South Korea are closed for National day holiday, while Taiwan market is closed due to typhoon.

Straits Times down by 1.15 points 0.03% to 3,583.52, Jakarta Composite slipped by 40.15 points or 0.53% to 7,523.11, Hang Seng declined by 700.55 points 3.22% to 21,743.18, and FTSE Bursa Malaysia KLCI lower by 3.24 points or 0.20% to 1,636.07.

On the flip side, Nikkei 225 surge by 758.94 points 2.01% to 38,567.70.

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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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