Most of the Asian markets traded lower in early deals of Friday, due to dulled investor sentiments followed by the sluggish economic numbers and a worsening outlook for the year. Negative trend in Wall Street overnight in tandem with the reignited US banking sector concerns also pressured investments. Weaker-than-expected US labor data raised concerns over a potential recession. China’s Shanghai dragged losing streak to fourth consecutive session after the sluggish trade and inflation data this week raised doubts over a potential post-COVID economic rebound in the country this year. Bucking the trend Japan’s Nikkei advanced in the session after robust earnings results.
Hang Seng dipped by 25.71 points or 0.13% to 19,718.08, Straight times down by 26.60 points or 0.82% to 3,202.95, Jakarta Composite lower 32.26 points or 0.48% to 6,723.68, KOSPI slipped by 9.58 points or 0.38% to 2,481.42, and Shanghai curtailed by 13.17 points or 0.40% to 3,296.38.
On the flip side, Nikkei 225 rose 258.30 points or 0.89% to 29,385.02, Taiwan narrowed by 11.59 points or 0.07% to 15,526.23, and FTSE Bursa Malaysia KLCI added by 2.77 points or 0.19% to 1,427.95.
