Asian markets traded mostly lower in early deals of Friday, due to risk aversion in the market after renewed concerns about the property sector, followed by reports of state-backed developer China Vanke seeking to restructure debt. Sharp sell offs in technological sector stocks with the concerns over stretched AI valuations saddled local indices. Japan’s Nikkei slipped in the session followed by unexpected economic resilience, and on increased speculation of an interest rate hike by the Bank of Japan.

Nikkei 225 down by 12.10 points or 0.02% to 50,155.00, Hang Seng slipped by 23.93 points 0.09% to 25,922.00, KOSPI Index decreased by 59.57 points or 1.49% to 3,927.34, Jakarta Composite dropped by 27.88 points or 0.33% to 8,517.99 and FTSE Bursa Malaysia lower by 11.70 points or 0.72% to 1,605.76.

On the flip side, Straits Times up by 20.69 points or 0.46% to 4,530.03, Taiwan Weighted rose by 198.78 points or 0.72% to 27,753.31, and Shanghai Composite added by 8.20 points or 0.21% to 3,883.46.