Asian markets traded in red in early deals on Friday, amid renewed geopolitical conflicts in the Middle East. Sharp sell offs in technological sector stocks with the woes that AI growth is failing dulled the indices. Lingering fears of a US slowdown, stubborn inflation, and high rates dampened markets' sentiment. Hang Seng tumbled in the session amidst caution over sluggish economic data from China, including weak PMI figures and continued deflationary pressures.
Nikkei down by 289.84 points or 0.46% to 62,544.00, Straits Times dipped by 24.24 points 0.49% to 4,917.72, Hang Seng plunged by 299.28 points 1.12% to 26,327.00, Taiwan weighted declined by 413.85 points or 0.99% to 41,519.93, Jakarta Composite narrowed by 5.85 points or 0.08% to 7,168.47, KOSPI Index slipped by 30.34 points or 0.41% to 7,459.71, Shanghai Composite decreased by 10.15 points or 0.24% to 4,169.94, and FTSE Bursa Malaysia KLCI index curtailed by 7.01 points or 0.40% to 1,751.84.
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