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Asian markets trade mostly higher in early deals on Tuesday

05 Nov 2024 Evaluate
Asian markets traded mostly higher in early deals on Tuesday, supported by the risk appetite in the market ahead to later today’s US presidential election and Thursday’s Federal Reserve’s monetary policy decision. The Federal Reserve is widely expected to lower interest rates by another 25 bps. Additionally, expectations of rate reductions from other major central banks also kindled investor sentiments. Upbeat October business activity data from China marking a four-month high, with rise in factory output and improved services sector growth, also boosted investments. Japan’s Nikkei soared with the strong corporate earnings report and on weaker local currency yen. Meanwhile, last week’s BoJ’s decision to keep the interest rates steady at 0.25% and the receding global economic risks also supported investments.

Nikkei 225 surged by 467.90 points 1.23% to 38,521.57, Hang Seng higher by 255.84 points 1.23% to 20,823.36, Taiwan Weighted rose by 70.18 points or 0.31% to 23,035.57, Shanghai Composite soared by 59.49 points or 1.77% to 3,369.70 and FTSE Bursa Malaysia KLCI added by 3.22 points or 0.20% to 1,619.65

On the flip side, Straits Times fell by 2.97 points 0.08% to 3,569.07, KOSPI Index dipped by 13.17 points or 0.51% to 2,575.80, and Jakarta Composite was down by 18.77 points or 0.25% to 7,460.73.

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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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