Asian markets traded in red in early deals on Friday, due to risk aversion after hotter-than-expected US inflation data reduced expectations for Fed interest rate cuts. Strong bond yield notes, as well as profit taking in AI-linked stocks and technology shares, dulled the local indices. Stalled US-Iran talks and a closed Strait of Hormuz increased oil-related, import-driven economic concerns, while Xi-Trump talks on Taiwan, also heightened caution. Japan’s Nikkei tumbled on concerns over hawkish stance by Bank of Japan after the release of stronger-than-expected producer inflation figures. Stock market of Indonesia is closed for Ascension Day
Nikkei tumble by 1,023.05 points or 1.63% to 61,631.00, Straits Times dipped by 3.89 points 0.08% to 4,992.05, Hang Seng declined by 238.04 points 0.91% to 26,151.00, KOSPI Index plunged by 461.39 points or 5.78% to 7,520.02, Taiwan weighted fell by 393.88 points or 0.94% to 41,357.87, Shanghai Composite decreased by 14.88 points or 0.36% to 4,163.04, and FTSE Bursa Malaysia KLCI index down by 6.11 points or 0.35% to 1,739.47.
