Asian markets traded mostly lower in early deals on Monday, pressured by geopolitical friction between the United States and Iran. Retaliatory airstrikes disrupted shipping through the Strait of Hormuz, driving up crude oil prices and fuelled fears of renewed global inflation and higher interest rates. Heavyweight technology and AI-linked stocks have experienced sharp sell-offs and valuation pressures. South Korea’s KOSPI plunged the most among Asian indices. It had shed almost 8% in last week.
Nikkei tumbled by 1,539.73 points or 2.25% to 67,018.00, Straits Times down by 14.39 points or 0.26% to 5,454.90, Hang Seng dipped by 50.12 points 0.21% to 24,125.00, KOSPI Index plunged by 594.97 points or 8.65% to 6,880.97, Taiwan weighted slipped by 50.21 points or 0.11% to 45,304.40 and Shanghai Composite lower by 61.42 points or 1.54% to 3,934.74.
On the flip side, Jakarta Composite added by 5.20 points or 0.09% to 5,929.56, and FTSE Bursa Malaysia KLCI index jumped by 6.26 points or 0.37% to 1,697.75.
