Asian markets traded mostly lower in early deals on Thursday, as strong US economic data spooked concerns over persistent inflation and intensified interest rate hike fears. Negative trend in Wall Street overnight after Treasury yield notes jumped to multi-year highs saddled local indices. Additionally, elevated crude oil prices and lingering US-Iran geopolitical tensions also dulled investor sentiments. Hang Seng dipped with the sharp sell offs in tech heavyweights. The domestic regulatory probes into prominent Chinese AI labs also pressured the index. South Kore’s KOSPI is closed for a holiday.
Straits Times down by 6.38 points or 0.11% to 5,703.53, Hang Seng dipped by 147.12 points or 0.59% to 24,687.00, Taiwan weighted dulled by 223.58 points or 0.47% to 47,933.71, Jakarta Composite declined by 67.80 points or 1.06% to 6,307.11, and Shanghai Composite trimmed by 37.42 points or 0.95% to 3,899.10.
On the flip side, Nikkei surged by 909.05 points or 1.40% to 65,928.00, and FTSE Bursa Malaysia KLCI index up by 1.29 points or 0.08% to 1,677.72.
