Asian markets trade mostly lower in early deals on Monday
Nikkei tumble by 975.27 points or 1.66% to 57,875.00
Asian markets traded mostly lower in early deals on Monday, due to sharp selloff with the escalation in Middle East tensions following weekend military strikes by the US and Israel on Iran. Investor sentiments was further battered by President Donald Trump’s vow to ‘avenge’ the deaths of three US service members, raising fears that protracted combat operations could disrupt oil shipments through the Strait of Hormuz, a critical global energy route. Caution also prevailed as investors awaited China's February PMI data, adding further downward pressure to the markets. Japan’s Nikkei plunged with the global indices and on jitters that the rapid AI adoption might displace traditional software providers. Stock market of South Korea is closed for Independence Movement Day Alternative Holiday.
Nikkei tumbled by 975.27 points or 1.66% to 57,875.00, Straits Times down by 88.18 points or 1.77% to 4,906.89, Hang Seng down by 438.54 points 1.65% to 26,192.00, Jakarta Composite slipped by 131.77 points 1.60% to 8,103.72, Taiwan weighted curtailed by 189.67 points or 0.54% to 35,224.82, and FTSE Bursa Malaysia KLCI index narrowed by 17.59 points or 1.02% to 1,699.02.
On the flip side, Shanghai Composite up by 17.57 points or 0.42% to 4,180.45.
