Asian markets were trading mostly in red in early deals on Thursday, following weak cues from US markets overnight, on concerns that moderating inflation in the U.S. won't be enough to prevent the Federal Reserve from hiking rates again in May. Chinese shares recovered from an early slide to trade on a flat note. Japan's Nikkei index was marginally higher despite the latest FOMC meeting minutes suggested rising recession risks in the world's largest economy.
Hang Seng declined 107.25 points or 0.53% to 20,202.61, Taiwan Weighted lost 66.34 points or 0.42% to 15,866.63, Jakarta Composite plunged 27.1 points or 0.4% to 6,771.86, Straits Times fell 2.32 points or 0.07% to 3,283.80 and KOSPI dropped 1.65 points or 0.06% to 2,548.99. On the other hand, Nikkei 225 surged 38.19 points or 0.14% to 28,120.89 and Shanghai Composite was up by 1.65 points or 0.05% to 3,328.83.
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