Asian markets trade mostly lower in early deals on Friday
Shanghai Composite down by 15.82 points or 0.39% to 4,077.43
Asian markets traded mostly lower in early deals on Friday, as the investor sentiments dulled with the intensifying geopolitical risks and rising energy costs. The US had launched naval strikes against vessels planting mines in the Strait of Hormuz, while Iran's seizure of commercial ships. Warnings of a continued shutdown have intensified fears over global energy supplies, overshadowing a three-week extension of the ceasefire between Israel and Lebanon. China’s Shanghai declined in the session following weak global cues and a drop in China's industrial profits, intensifying concerns that the economic recovery is losing momentum.
Straits Times down by 31.99 points or 0.65% to 4,912.12, Hang Seng dipped by 13.20 points 0.05% to 25,902.00, KOSPI Index lifted by 21.06 points or 0.33% to 6,454.75, Jakarta Composite down by 225.76 points or 3.06% to 7,152.85, and Shanghai Composite decreased by 15.82 points or 0.39% to 4,077.43.
On the flip side, Nikkei up by 462.77 points or 0.78% to 59,603.00, Taiwan weighted rose by 1,052.81 points or 2.79% to 38,766.96, and FTSE Bursa Malaysia KLCI index widened by 0.61 points or 0.04% to 1,722.31.
