Asian markets traded mostly lower in early deals on Thursday, saddled by the risk aversion in the market with the concerns surrounding the US-Venezuela conflict and civil unrest in Iran. Technical selling after strong AI-driven rallies, with concerns over stretched valuations also dulled the indices. Meanwhile, the US Supreme Court postponed a ruling on the legality of Trump’s country-specific ‘reciprocal’ tariffs. Japan’s Nikkei tumbled with the rising bond yields and on stronger local currency yen weighing down foreign investments and export oriented business.
Nikkei 225 plunged by 582.23 points or 1.07% to 53,759.00, Straits Times dipped by 8.56 points or 0.18% to 4,803.95, Hang Seng lower by 112.81 points 0.42% to 26,887.00, Taiwan weighted down by 225.34 points or 0.73% to 30,716.44, Shanghai Composite narrowed by 24.57 points or 0.60% to 4,101.52, and FTSE Bursa Malaysia KLCI index slipped by 4.85 points or 0.28% to 1,706.06.
On the flip side, KOSPI Index increased by 16.57 points or 0.35% to 4,739.67, and Jakarta Composite rose by 26.01 points 0.29% to 9,058.59.
