Asian markets settle mostly down on Wednesday

30 Oct 2024 Evaluate

Asian markets settled mostly down on Wednesday with caution ahead of key US economic data due this week and next week's US presidential election and the Fed's rate decision, while investors react to mixed earnings results from US technology giants like Alphabet and chipmaker AMD. Market sentiments weakened further after news that the European Union has decided to Increase tariffs on Chinese-built electric vehicles to as much as 45.3% at the end of its highest profile trade investigation that has divided Europe and prompted retaliation from Beijing. Chinese shares fell as investors awaited the details of a fiscal package that could address issues in local government debt and the property market. Although, Japanese shares gained ahead of Thursday's Bank of Japan interest rate decision.

Asian Indices	Last Trade	Change in Points	Change in %
Shanghai Composite	3,266.24	-20.17	-0.62
Hang Seng	20,380.64	-320.50	-1.57
Jakarta Composite	7,569.85	-36.75	-0.49
KLSE Composite	1,601.88	-13.20	-0.82
Nikkei 225	39,277.39	373.71	0.95
Straits Times	3,558.88	-31.48	-0.88
KOSPI Composite	2,593.79	-24.01	-0.93
Taiwan Weighted	22,820.43	-106.16	-0.47

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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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