Asian markets traded mostly lower in early deals on Friday, as persistent geopolitical friction in the Middle East and delays in reopening the critical Strait of Hormuz amplified global inflationary threats. Persistent capital outflows from Foreign Institutional Investors further dragged down regional performance. Additionally, pessimism over the timeline for high-tech capital expenditures to yield tangible corporate earnings expansion dulled investor sentiments. High crude oil prices also added pressure on energy-import-heavy Asian economies. Hang Seng marked its fourth consecutive session of losses and hitting its lowest level in three weeks with the negative global cues.
Hang Seng down by 254.51 points or 1.00% to 25,141.00, Straits Times narrowed by 0.36 points or 0.01% to 5,719.69, Taiwan weighted dipped by 108.40 points or 0.24% to 45,913.08, Shanghai Composite fell by 21.61 points or 0.55% to 3,905.35 and FTSE Bursa Malaysia KLCI index declined by 3.39 points or 0.20% to 1,731.32.
On the flip side, Nikkei up by 304.41 points or 0.45% to 68,613.00, Jakarta Composite higher by 35.42 points or 0.56% to 6,337.19, and KOSPI Index surged by 129.82 points or 1.91% to 6,943.16.
