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Asian markets trade mostly lower in early deals on Thursday

29 Aug 2024 Evaluate
Asian markets traded mostly lower in early deals on Thursday, saddled by risk aversion ahead to key US economic data, including a growth reading, PCE index, and weekly jobless claims, will be due this week. Sell off in technological sector stocks after AI leader Nvidia dropped significantly followed by its sluggish quarterly forecast, also saddled the domestic indices. Hang Seng retreated from its highest level in nearly one and half months. Japan’s Nikkei snapped two-day consecutive gains with the increased foreign inflows amidst weaker local currency yen.

Nikkei 225 down by 41.35 points 0.11% to 38,330.41, Taiwan Weighted narrowed by 169.16 points or 0.76% to 22,201.50, Hang Seng dipped by 115.62 points 0.66% to 17,576.83, KOSPI Index declined by 21.65 points or 0.80% to 2,668.18, Shanghai Composite diminished by 12.81 points or 0.45% to 2,824.62, and FTSE Bursa Malaysia KLCI curtailed by 7.77 points or 0.46% to 1,667.47

On the flip side, Straits Times up by 11.45 points 0.34% to 3,402.48, and Jakarta Composite lifted by 46.85 points or 0.61% to 7,705.73.

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