Asian markets concluded Friday’s trade mostly in red. Japanese Nikkei retreated after opening comfortably higher in morning, with a wave of selling ahead of weekend elections in the country, dragging on other regional markets. The volatility came ahead of the country’s upper house elections this weekend, in which the ruling Liberal Democratic Party (LDP) is expected to easily clinch a majority. The LDP already has a majority in the lower house of the parliament, and a majority in the upper chamber of the Diet would strengthen Prime Minister Shinzo Abe’s government in its attempt to revive the Japanese economy. China’s Shanghai Composite too concluded the trade in red.
South Korean shares experienced choppy trade as investors took to the sidelines ahead of the Upper House election in Japan on Sunday that was expected to strengthen the weak yen trend. The weak yen trend was feared to damage price competitiveness of South Korean exporters that are competing with Japanese rivals in overseas markets. Cautiousness also remained among investors over the second-quarter earnings season that will be start from next week. Besides, the central bank data showed that corporate bankruptcies in South Korea fell to a record low last month as local financial institutions eased lending attitude toward small businesses.
Indonesia’s Jakarta Composite concluded in green. The country’s central bank raised $600 million in its first currency swaps auction, well above its indicative target of $500 million. The swaps with tenure of one, three and six-months were oversubscribed with incoming bids worth $1.24 billion, Bank Indonesia reported. Hong Kong managed to close in green but utilities fell and developers slid amid concern more cities will take steps to cool the property market.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 1992.65 | -30.75 | -1.52 |
Hang Seng | 21362.42 | 17.20 | 0.08 |
Jakarta Composite | 4724.41 | 3.98 | 0.08 |
KLSE Composite | 1797.74 | 6.20 | 0.35 |
Nikkei 225 | 14589.91 | -218.59 | -1.48 |
Straits Times | 3213.26 | -4.94 | -0.15 |
KOSPI Composite | 1871.41 | -4.07 | -0.22 |
Taiwan Weighted | 8062.03 | -132.85 | -1.62 |
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.
To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.
MoneyWorks4Me ensures this through: