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Asian markets trade lower in early deals on Wednesday

07 Aug 2013 Evaluate

Extending their last session’s southbound journey, Asian equity markets are trading mostly in the red terrain on Wednesday, hitting their lowest since mid-July as investors remained concerned over uncertainty about when the Federal Reserve will start to reduce stimulus keeping a leash on market bulls. Meanwhile, Japanese Nikkei share average slumped around three percent to a one-week low as exporters were hammered after the dollar fell to a six-week low against the yen.

Hang Seng dipped 62.40 points or 0.28% to 21,861.30, KLSE Composite decreased 5.19 points or 0.29% to 1,779.45, Nikkei 225 tumbled 426.68 points or 2.96% to 13,974.38, Seoul Composite declined 19.19 points or 1.01% to 1,887.43 and Taiwan Weighted was down by 87.84 points or 1.09% to 7,951.07.

On the flip side, Shanghai Composite surged 7.06 points or 0.34% to 2,067.56 and Straits Times was up by 9.71 or 0.30% to 3,234.60.

Indonesia’s Jakarta Composite is closed for a week till August 9 on account of Public Holiday ‘Id-ul-Fitr’.

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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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