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Asian markets trade higher in early deals on Tuesday

24 Dec 2024 Evaluate
Asian markets traded higher in early deals on Tuesday, kindled by the risk appetite in the market ahead to the Christmas Day holidays. Market sentiments also buoyed with the optimism over more Fed interest rate cuts. Rally in technological and financial sector stocks also supported the indices. Report from Chinese state media Global Times that foreign institutions maintain a positive outlook on China's capital market for 2025 also boosted investor sentiments. Additionally, liberal spending from China government and increased interest rate cuts by PBoC next year are expected. Hang Seng surged the most among Asian indices extending winning streak to second straight session and marking its highest level in over a week.

Hang Seng rose by 215.16 points 1.07% to 20,098.29, Straits Times buoyed by 17.22 points 0.46% to 3,769.55, Taiwan Weighted lifted by 50.15 points or 0.22% to 23,154.69, Shanghai Composite added by 22.92 points or 0.68% to 3,374.18, and FTSE Bursa Malaysia KLCI kindled by 6.06 points or 0.38% to 1,602.26.

On the flip side, Nikkei 225 down by 88.43 points 0.23% to 39,072.91, KOSPI Index decreased by 0.89 points or 0.04% to 2,441.12, and Jakarta Composite slipped by 7.52 points or 0.11% to 7,088.93.

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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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