Asian markets traded mostly lower in early deals on Thursday, as rising Middle East tensions, climbing oil rates, and hawkish Federal Reserve stance fuelled investor risk aversion. Additionally, sharp rise in longer-dated Treasury yields, and renewed concerns over AI-related spending also dulled equity investments. South Korea’s KOSPI plunged followed by disappointing quarterly earnings from memory-chip giant SK Hynix, and intensifying competition from Chinese semiconductor manufacturers.
Hang Seng down by 18.92 points or 0.07% to 25,789.00, Straits Times dipped by 44.05 points or 0.77% to 5,669.14, KOSPI Index plunged by 78.47 points or 1.39% to 5,584.77, Shanghai Composite tumbled by 43.92 points or 1.15% to 3,784.55 and FTSE Bursa Malaysia KLCI index declined by 1.12 points or 0.07% to 1,714.44
On the flip side, Nikkei up by 495.81 points or 0.81% to 61,930.00, Taiwan weighted surged by 411.48 points or 1.03% to 40,450.66, and Jakarta Composite rose by 43.11 points or 0.71% to 6,134.50.
