Asian markets traded in red in early deals on Monday, due to mounting pressure from elevated bond yields and persistent global inflation worries. Investors also maintained a cautious stance as they braced for the details of severe new economic sanctions against Iran. Additionally, the regional technology sector faced nervous trading ahead of highly anticipated, make-or-break quarterly earnings results from Nvidia. Japan’s Nikkei extended losses from the previous session amidst expectations of a rate hike by the Bank of Japan. Investor sentiments dulled as the Japanese government bond yields increased borrowing costs.
Nikkei down by 378.36 points or 0.57% to 65,638.00, Hang Seng dipped by 519.46 points or 2% to 25,490.00, Straits Times declined by 12.06 points or 0.21% to 5,676.90, Taiwan weighted narrowed by 369.93 points or 0.82% to 44,854.36, KOSPI Index tumbled by 228.81 points or 3.31% to 6,684.14, Jakarta Composite declined by 45.04 points or 0.69% to 6,480.65, Shanghai Composite dipped by 42.55 points or 1.09% to 3,862.65 and FTSE Bursa Malaysia KLCI index curtailed by 0.25 points or 0.01% to 1,736.23.
