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Asian markets trade mostly lower in early deals on Thursday

18 Jul 2024 Evaluate
Most of the Asian markets traded lower in early deals on Thursday, on account of global chip stock sell off as the Biden administration is considering implementing strict export controls to limit China’s access to advanced chip manufacturing tools. Additionally, bets over another Trump presidency also raced jitters after he stated that Taiwan should be paying the US for defence. Japan’s Nikkei tumbled to multi week lows with the negative global trend. Meanwhile, Japan’s trade surplus unexpectedly climbed in June as exports growth outpaced imports.

Nikkei 225 down by 762.22 points 1.89% to 40,335.47, Straits Times narrowed by 20.55 points 0.59% to 3,469.02, Taiwan Weighted slipped by 545.30 points or 2.35% to 23,224.52, KOSPI Index decreased by 35.45 points or .26% to 2,807.84, Shanghai Composite dipped by 3.60 points or 0.12% to 2,959.25, and FTSE Bursa Malaysia KLCI curtailed by 1.60 points or 0.10% to 1,631.94.

On the flip side, Hang Seng rose by 47.61 points 0.27% to 17,787.02, and Jakarta Composite kindled by 88.21 points or 1.21% to 7,312.43.

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