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Asian Markets trade mostly lower in early deals of Thursday

29 Dec 2022 Evaluate
Most of the Asian markets traded lower in early deals on Thursday, as the aggressive interest rate hikes of Central banks spooked over a potential global recession. Meanwhile, massive spread of Covid-19 cases in China, continued restrictions and negative trend in global indices also led to down-turn in Asian stocks. US demands negative virus test for air passengers from China, while Italy announced requirement to test arrivals from the Asian nation and reported that almost half of passengers on two flights from China to Milan tested positive, also fuelled woes among investors. Japan’s Nikkei tumbled with bearish trend in almost all sectors.

Nikkei 225 down by 283.02 points or 1.07% to 26,057.48, Straight times declined 27.19 points or 0.83% to 3,239.78, Hang Seng decreased by 223.06 points or 1.12% to 19,675.85, KOSPI shrunk by 35.49 points or 1.56% 2,244.96, Taiwan narrowed by 105.83 points or 0.75% to 14,067.27, Shanghai diminished by 9.60 points or 0.31% to 3,077.80, and FTSE Bursa Malaysia KLCI dipped by 1.53 points or 0.10% to 1,481.64

On flip side, Jakarta Composite up by 5.23 points or 0.08% to 6,855.75.

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