Asian markets trade mostly lower on Thursday
Nikkei tumbled by 782.33 points or 1.31% to 59,135.13
Asian markets are trading mostly lower on Thursday, tracking mixed cues from Wall Street overnight following the Federal Reserve’s decision to keep US rates unchanged at the current 3.5-3.75 percent range was widely expected, and revealed a deepening division over the policy outlook amid heightened uncertainty tied to the Iran war. Moreover, traders remained cautious as the blockade of all maritime traffic entering and exiting Iranian ports and the Strait of Hormuz continues, pushing crude oil prices higher to levels not seen in four years and continuing to escalate inflationary pressures. However, Chinese shares rose after data showing that China's factory activity remained in expansion territory in April, staying above the 50-point boom-bust line for a second consecutive month.
Nikkei tumbled by 782.33 points or 1.31% to 59,135.13, Hang Seng declined by 298.51 points or 1.14% to 25,813.33, KOSPI Index bearish by 78.22 points or 1.17% to 6,612.68, Taiwan weighted decreased by 481.61 points or 1.33% to 35,857.21, FTSE Bursa Malaysia KLCI index narrowed by 4.23 points or 0.25% to 1,716.19, and Jakarta Composite plunged by 174.68 points 2.46% to 6,926.55.
On the flip side, Shanghai Composite rose 7.43 points or 0.18% to 4,114.94, and Straits Times up by 30.07 points or 0.62% to 4,891.04.
