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Asian markets trade mostly lower in early deals of Tuesday

22 Oct 2024 Evaluate
Asian markets traded mostly lower in early deals of Tuesday, due to risk aversion ahead to tight US elections and intensified Middle East war. Moreover, technical correction after previous sessional rallies and higher bond yield notes also pressured the indices. Japan’s Nikkei tumbled to its lowest levels in over two weeks amidst political uncertainty in the lead up to Japan’s general election this weekend, and cautiousness ahead to a slew of corporate earnings reports.

Nikkei 225 tumbled by 555.13 points 1.45% to 38,399.47, Straits Times lower by 5.29 points 0.15% to 3,609.29, Jakarta Composite dipped by 11.55 points or 0.15% to 7,761.05, Taiwan Weighted diminished by 133.96 points or 0.57% to 23,408.57, KOSPI Index down by 25.70 points or 1% to 2,579.22, and FTSE Bursa Malaysia KLCI shrunk by 0.22 points or 0.01% to 1,645.46.

On the flip side, Hang Seng up by 58.33 points 0.28% to 20,536.79, and Shanghai Composite rose by 10.17 points or 0.31% to 3,278.28

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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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