Asian markets traded mostly lower in early deals on Monday, with the sharp correction in tech and chip-related equities. Investor sentiments dampened amid surging inflation and on energy supply constraints triggered by escalating Middle East tensions following recent Houthi missile and drone strikes on Saudi Arabian infrastructure. Regional markets turned cautious ahead of critical heavy corporate earnings and key interest rate calls from the Bank of Japan and global central banks this week. Japan’s Nikkei marked third straight sessional loss. Stock market of Taiwan is closed for Taiwan Restoration Day holiday.
Nikkei 225 down by 128.16 points or 0.20% to 62,565.00, Straits Times dipped by 14.37 points or 0.27% to 5,407.79, Jakarta Composite plunged by 54.29 points or 1.00% to 5,384.97, KOSPI Index declined by 23.79 points or 0.43% to 5,526.51, Shanghai Composite narrowed by 0.40 points or 0.01% to 3,690.08, and FTSE Bursa Malaysia KLCI index slipped by 9.51 points or 0.59% to 1,602.05.
On the flipside, Hang Seng up by 130.63 points or 0.57% to 23,224.00.