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Asian markets trade mixed in early deals on Tuesday

29 Oct 2024 Evaluate
Asian markets traded mixed in early deals on Tuesday, with the caution ahead of the release of key US economic data later in the week which could impact the hopes regarding timeline in Fed interest rate cuts. Intensifying Middle East tensions and uncertainties ahead to tight US presidential elections and waning Chinese economy also continued to pressure the indices. Japan’s Nikkei advanced with the positive Wall Street overnight. However, some gains remained trimmed as ruling Liberal Democratic Party of Japan lost its parliamentary majority at the weekend election, raising policy uncertainties and further complicating the BoJ’s rate hike plans.

Nikkei 225 up by 213.98 points 0.55% to 38,819.51, Hang Seng rose by 92.31 points 0.45% to 20,691.67, Jakarta Composite enlarged by 19.00 points or 0.25% to 7,653.63, and FTSE Bursa Malaysia KLCI added by 6.64 points or 0.41% to 1,617.11.

On the flip side, KOSPI Index sluggish by 6.50 points or 0.25% to 2,605.93, Taiwan Weighted down by 363.30 points or 1.57% to 22,834.77, Straits Times slipped by 10.55 points 0.29% to 3,573.53, and Shanghai Composite dipped by 14.50 points or 0.44% to 3,307.70.

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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