Asian markets traded mostly lower in early deals on Monday, saddled by risk aversion after crude oil rates soared followed by renewed military tensions between the US and Iran. Investor sentiments dulled as hawkish comments from Federal Reserve Chair Kevin Warsh spurred rate-hike jitters. Sharp correction in major technology and chip-making stocks pressured the local indices. Taiwan weighted plunged, breaking a four-day winning streak. The drop was driven by a sharp correction in tech giant TSMC and regulatory issues at circuit board maker Unimicron. Stock market of Malaysia is closed for National Day.
Nikkei down by 243.56 points or 0.37% to 66,162.00, Hang Seng dipped by 186.79 points or 0.74% to 25,398.00, Taiwan weighted plunged by 581.67 points or 1.26 % to 45,749.78, KOSPI Index reduced by 20.69 points or 0.30% to 6,768.19, Shanghai Composite narrowed by 6.02 points or 0.15% to 3,946.16, and Jakarta Composite curtailed by 1.58 points or 0.02% to 6,516.54.
On the flip side, Straits Times rose by 29.94 points or 0.53% to 5,729.87.
