Asian markets trade mixed in early deals on Monday
Nikkei down by 193.61 points or 0.36% to 53,626.00
Asian markets traded mixed in early deals on Monday, with woes over escalating geopolitical tensions in the Middle East and high energy costs, as against strong Chinese economic data. Ongoing hostilities in the Gulf, characterized by a prolonged disruption of the Strait of Hormuz, continue to drive significant market volatility into a third week. As Brent crude maintained its climb past $100, Asian energy importers face mounting economic pressure while global inflation forecasts are revised upward due to the Gulf crisis. Japan’s Nikkei slipped in the session with the global negative cues following a US strike on Kharg Island. Bucking the trend, Hang Seng snapped a three-session losing streak with the optimism over US-China trade talks and strong Chinese industrial data.
Nikkei down by 193.61 points or 0.36% to 53,626.00, Jakarta Composite dipped by 100.86 points 1.41% to 7,036.35, Shanghai Composite curtailed by 14.18 points or 0.35% to 4,081.27 and FTSE Bursa Malaysia KLCI index decreased by 1.78 points or 0.10% to 1,697.07
On the flip side, Straits Times up by 3.61 points or 0.09% to 4,846.43, Hang Seng soared by 274.40 points 1.07% to 25,740.00, Taiwan weighted rose by 69.99 points or 0.21% to 33,470.31, and KOSPI Index lifted by 31.88 points or 0.58% to 5,519.12.
