Asian markets end mostly in the red on Thursday

Most of the Asian equity indices finished the day’s trade in the negative terrain on Thursday but closed off their early lows as bargain buyers circled back into equities on attractive valuations. Initially, the regional markets took a hit on opening after Wall Street slumped overnight -- with each of the three main indexes losing more than four percent -- while the sentiments also remained dampened after European woes reignited on Wednesday when rumours circulated that France was in danger of seeing its top-notch credit downgraded, following last week’s historic cut to the United States’ rating. Moreover, Singapore shares fell by midday on Thursday, weighed by oil rig builders on continuing worries about demand however, South Korean index Seoul Composite reversed course to close up by over half a percent after opening four percent lower in the trade, helped by steady institutional and pension fund buying.