Asian markets trade mostly lower in early deals on Friday
Nikkei plunged by 824.96 points or 1.51% to 53,628.00
Asian markets traded mostly lower in early deals on Friday, as the US-Iran conflict entered its 14th day. Risk aversion got accelerated after Iran’s newly appointed leader, Mojtaba Khamenei, vowed to maintain a blockade on the Strait of Hormuz. With Tehran escalating strikes on regional energy and transport hubs, markets are bracing for a major inflationary surge and dulled expectations for central bank rate cuts. Japan’s Nikkei tumbled in the session with the negative global cues.
Nikkei plunged by 824.96 points or 1.51% to 53,628.00, Hang Seng tumbled by 135.76 points 0.53% to 25,581.00, Taiwan weighted wilted by 278.91 points or 0.83% to 33,302.95, KOSPI Index narrowed by 115.49 points or 2.07% to 5,467.76, Jakarta Composite dipped by 133.17 points 1.81% to 7,228.95, Shanghai Composite curtailed by 8.96 points or 0.22% to 4,120.14 and FTSE Bursa Malaysia KLCI index decreased by 11.60 points or 0.68% to 1,699.41.
