Asian markets traded mixed in early deals on Monday, amid intensifying US-Iran tensions and a sharp correction in major tech and AI stocks. The geopolitical conflict disrupted international shipping routes, driving Brent crude past $90 a barrel and triggering widespread anxiety over a resurgence of global inflation. South Korea’s KOSPI plunged in the session, extending losses to its lowest level since late April, with the massive sell offs in global semiconductor stocks. Meanwhile, Japanese stock market remained closed for the Marine Day public holiday.
Straits Times down by 7.43 points or 0.13% to 5,502.00, Taiwan weighted dipped by 65.18 points or 0.15% to 42,606.09, KOSPI Index plunged by 308.72 points or 4.53% to 6,511.88, and FTSE Bursa Malaysia KLCI index slipped by 5.34 points or 0.31% to 1,726.11.
On the flip side, Hang Seng soared by 530.76 points 2.16% to 25,093.00, Jakarta Composite added by 53.38 points or 0.86% to 6,228.92, and Shanghai Composite higher by 19.55 points or 0.52% to 3,783.70.
