Asian markets settled mostly lower on Friday tracking Wall Street’s overnight fall driven by a sharp global tech and artificial intelligence selloff following US midterm election results and data center regulation concerns. Further, market participants awaited US October payrolls report, due later in the day, for more cues on a possible rate hike in December, especially as two Federal Reserve officials supported modest and steady interest-rate increases to combat persistent inflation. However, some losses were limited by hopes of a de-escalation in the US-Iran conflict and the possible reopening of the Strait of Hormuz. Japan’s Nikkei fell below the 60,000-mark for the first time since May and entering into bear market territory after a more than 20% fall from its June peak. South Korea’s Kospi index plunged below the critical 5,000-point psychological threshold for the first time in nine months, though it recovered some losses by the closing bell.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,649.18 | -40.73 | -1.10 |
Hang Seng | 24,481.86 | -315.12 | -1.27 |
Jakarta Composite | 5,050.43 | 20.17 | 0.40 |
KLSE Composite | 1,616.58 | -19.28 | -1.18 |
Nikkei 225 | 57,434.77 | -3,643.13 | -5.96 |
Straits Times | 5,179.17 | -117.08 | -2.21 |
KOSPI Composite | 5,059.69 | -324.11 | -6.02 |
Taiwan Weighted | 39,701.64 | -1,873.08 | -4.51 |