Asian markets traded mostly lower in early deals on Tuesday, pressured by a sharp tech correction in AI and semiconductor sectors alongside escalating Middle East tensions. Investor sentiments dulled and oil prices soared after reported ship seizures near the Strait of Hormuz, compounding tariff anxieties. Meanwhile, Japan's Nikkei plunged on these global cues and on profit taking after stronger local currency yen.
Nikkei tumbled by 1,563.69 points or 2.24% to 68,174.00, Hang Seng down by 197.32 points or 0.84% to 23,419.00, Taiwan weighted wilted by 844.39 points or 1.81% to 45,712.00, KOSPI Index plunged by 646.85 points or 8.74% to 7,404.48, Shanghai Composite tumbled by 68.05 points or 1.68% to 3,973.19 and FTSE Bursa Malaysia KLCI index trimmed by 3.35 points or 0.20% to 1,680.18.
On the flip side, Straits Times rose by 31.29 points or 0.59% to 5,291.10, and Jakarta Composite higher by 27.46 points or 0.46% to 5,943.53.
