Asian markets trade mostly lower early deals on Friday
Hang Seng plunge by 331.24 points 1.23% to 26,554.00
Asian markets traded mostly lower in early deals on Friday, in tandem with the negative trend in Nasdaq, which fell to its lowest level since November. Risk aversion spurred on concerns over high capital spending on AI. A new tool from AI startup Anthropic, designed to automate diverse software functions, has sent shockwaves through the global IT and software services industry. Investor sentiments dulled amidst persistent concerns over China’s slowing momentum and weak demand ahead of the mid-February Spring Festival. The Hang Seng plunged in the session and is on track to set for its worst week in a month above 3% loss, though record IPO fundraising has helped temper broader negative sentiment.
Straits Times curtailed by 35.83 points or 0.72% to 4,940.04, Hang Seng slipped by 331.24 points 1.23% to 26,554.00, Jakarta Composite dipped by 229.46 points 2.91% to 7,874.42, KOSPI Index plunged by 155.37 points or 3.01% to 5,008.20, Taiwan weighted narrowed by 95.50 points or 0.30% to 31,705.77, and FTSE Bursa Malaysia KLCI index slide by 3.09 points or 0.18% to 1,727.93.
On the flip side, Nikkei 225 up by 211.96 points or 0.39% to 54,030.00, and Shanghai Composite increased by 6.33 points or 0.16% to 4,082.25.
