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Asian markets trade mostly higher in early deals on Monday

04 Nov 2024 Evaluate
Asian markets traded mostly higher in early deals on Monday, kindled by the risk appetite in the market with the renewed interest rate cut outlook after weaker than expected US job growth in October. Even though, some gains got trimmed with the lingering geopolitical tensions in the Middle-East, uncertainty over the US election outcome and the US Fed's monetary policy announcement later in the week. Hang Seng advanced for second straight session after the Saudi sovereign wealth fund announced last Friday a $1 billion financial commitment on the final day of the 2024 FII summit. Market sentiments also got boosted with the optimism over more details on fiscal support measures from Beijing as China's parliament is set to begin its meeting today. Stock market of Japan is closed for Culture Day holiday.

Hang Seng up by 21.69 points 0.11% to 20,528.12, KOSPI Index soared by 37.32 points or 1.47% to 2,579.68, Taiwan Weighted rose by 157.79 points or 0.69% to 22,937.87, Straits Times enlarged by 20.09 points 0.57% to 3,575.52, Shanghai Composite higher by 17.50 points or 0.53% to 3,289.51 and FTSE Bursa Malaysia KLCI added 7.67 points or 0.48% to 1, 611.65.

On the flip side, Jakarta Composite down by 70.89 points or 0.94% to 7,434.37.

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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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