Asian markets traded in red in early deals on Thursday, due to risk aversion after oil prices surged followed by fresh US strikes on an Iranian military site. Concerns over rising inflation, bets on interest rate hikes and caution ahead of upcoming US Personal Consumption Expenditures (PCE) price index dulled the investor sentiments. Hefty sell offs in selling in technology shares also pressured the indices. Hong Kong’s Hang Seng plunged the most among Asian indices. Stock market of Indonesia is close for trading on account of holiday.
Nikkei plunged by 685.41 points or 1.05% to 64,314.00, Straits Times slipped by 43.18 points 0.86% to 4,985.62, Hang Seng tumbled by 555.23 points or 2.19% to 24,773.00, Taiwan weighted wilted by 960.62 points or 2.17% to 43,296.18, KOSPI Index dropped by 173.50 points or 2.11% to 8,055.20, Shanghai Composite dipped by 8.38 points or 0.20% to 4,085.35 and FTSE Bursa Malaysia KLCI index slipped by 2.58 points or 0.15% to 1,696.44.
