Asian markets trade mostly lower in early deals on Wednesday
Nikkei tumble by 637.86 points or 1.07% to 58,948.00
Asian markets traded mostly lower in early deals on Wednesday, saddled by the risk aversion in the market amidst geopolitical uncertainty linked to the US-Iran standoff and its potential ramifications on energy flows through the Strait of Hormuz. Soaring crude oil rates continued to fuel inflation concerns dulling investor sentiments. Japan’s Nikkei tumbled ahead of Bank of Japan’s policy meeting next week, as policymakers grappled with uncertainty from escalated Middle East tensions.
Nikkei tumbled by 637.86 points or 1.07% to 58,948.00, Straits Times down by 48.05 points or 0.96% to 4,954.67, Hang Seng dipped by 185.24 points 0.71% to 25,978.00, Taiwan weighted by 573.26 points or 1.51% to 37,305.21, KOSPI Index lifted by 7.29 points or 0.11% to 6,410.64, Jakarta Composite down by 51.49 points or 0.68% to 7,490.12, and Shanghai Composite increased by 22.42 points or 0.55% to 4,083.84 and
On the flip side, FTSE Bursa Malaysia KLCI index widened by 9.27 points or 0.54% to 1,719.66.
