Market Updates
Asian Markets Turn Positive After Rates Worries Eased
Arjun Pandit
02 Feb, 2023
Mumbai
Asian markets advanced after rate anxieties eased and investors shifted focus to local economic data and corporate earnings.
Stocks in Tokyo advanced despite the worries of stronger yen weighed on market sentiment.
The Nikkei 225 index increased 0.2% to 27,402.05 and the yen strengthened to 127.05 against the U.S. dollar.
Benchmark indexes in China held steady ahead of a slew of corporate earnings next week.
The Shanghai Composite index increased 0.75 points to 3,285.67 and the Hang Seng Index fell 0.5% or 113.82 points to 21,958.36.
At least 89 e-commerce startups in China closed down in 2022, according to a report published by Linkshop.com.
Weak consumer spending, rising online fraud and poor customer service were the leading three reasons for corporate failures.
Last week, the Ministry of Commerce in China said e-commerce grew by 4% to 13.79 trillion yuan or $2.04 trillion.
Adani Group stocks accelerated decline for the second week in a row on the worries of regulatory hurdles and closer scrutiny to slow down company's efforts in raising capital.
The Sensex index increased 0.4% or 224.16 points to 59,932.24 and the Nifty index edged down 0.03% or 5.90 points to 17,610.40.
The Indian rupee edged lower to 82.15 against the U.S. dollar.
Annual Returns
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