Asian markets traded mostly lower in early deals on Tuesday, pressured by hefty losses in tech stocks, growing doubts about artificial intelligence spending, and caution ahead of the US Federal Reserve's interest rate decision. Besides, crude oil prices continued their downward trajectory following statements from US President Donald Trump that the US has reconvened diplomatic negotiations with Iran to resolve the Middle East conflict. South Korea’s KOSPI plunged to an over three-month low, as a deepening global semiconductor selloff battered heavyweight chipmakers. Meanwhile, Japan’s Nikkei tumbled to a two-month low with the loss in export-oriented business pressured by the firmness in local currency yen.
Nikkei tumbled by 2,491.19 points or 3.84% to 62,440.00, Hang Seng down by 15.18 points or 0.06% to 25,192.00, Straits Times dipped by 11.78 points or 0.21% to 5,608.46, KOSPI Index declined by 651.35 points or 9.64% to 6,104.40,Taiwan weighted narrowed by 1,758.28 points or 4.03% to 41,875.91, Shanghai Composite shrunk by 46.52 points or 1.22% to 3,811.73. and FTSE Bursa Malaysia KLCI index slipped by 0.24 points or 0.01% to 1,712.85.
On the flip side, Jakarta Composite added 4.99 points or 0.08% to 6,190.77,
