Asian markets trade in red in early deals on Friday
Nikkei 225 tumble by 1,202.94 points or 2.41% to 48,621.00
Asian markets traded in red in early deals on Friday, with the sharp sell offs in technical sector amidst as concerns over stretched AI valuations. Investor sentiments dulled with the weaker Wall Street overnight after stronger-than-anticipated US employment growth dulled expectations of more Federal Reserve interest rates cuts. Japan’s Nikkei tumbled in the session ahead of a widely expected stimulus announcement from Prime Minister Sanae Takaichi’s government. Stronger local currency yen also pressured the export-oriented business of Japan.
Nikkei 225 tumbled by 1,202.94 points or 2.41% to 48,621.00, Straits Times down by 43.00 points or 0.95% to 4,468.87, Hang Seng dipped by 525.57 points 2.08% to 25,310.00, Taiwan Weighted declined by 974.20 points or 3.55% to 26,452.16, Jakarta Composite narrowed by 20.58 points or 0.24% to 8,399.34, KOSPI Index fell 150.89 points or 3.77% to 3,853.96, Shanghai Composite curtailed by 69.18 points or 1.76% to 3,861.87, and FTSE Bursa Malaysia lower by 3.48 points or 0.21% to 1,616.48.
