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Asian markets settle mostly down on Thursday

19 Dec 2024 Evaluate
Asian markets settled mostly down on Thursday, tracking Wall Streets’ overnight fall due to heavy selling pressure after the US Federal Reserve delivered a 25-bps interest rate cut as expected but revised its projections to signal just two interest rate cuts next year compared to the four previously forecast, citing stubbornly high inflation. Market sentiments weakened further by investor worries that interest rates might be kept higher for longer due to policies proposed by US President-elect Donald Trump, including plans for tax cuts and widespread import tariffs. Chinese shares declined amid trade tensions as US authorities are contemplating a ban on China’s TP-Link routers due to cybersecurity risks, while China issued rules today to tighten scrutiny of foreign accounting firms' domestic operations as part of efforts to rein in accounting failures and fraud. Japanese shares fell, while the yen weakened following Bank of Japan's decision to refrain from raising interest rates.

Asian Indices

Last Trade            

Change in Points

Change in %      

Shanghai Composite

3,370.03

-12.18

-0.36

Hang Seng

19,752.51

-112.04

-0.57

Jakarta Composite

6,977.24

-130.64

-1.87

KLSE Composite

1,600.09

0.51

0.03

Nikkei 225

38,813.58

-268.13

-0.69

Straits Times

3,762.88

-16.74

-0.44

KOSPI Composite

2,435.93

-48.50

-1.99

Taiwan Weighted

22,932.25

-236.42

-1.03

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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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