Asian markets trade mostly lower in early deals on Wednesday

Asian markets traded mostly lower in early deals on Wednesday, tracking a sharp sell-off in regional semiconductor and technological sector shares. Markets faced heavy pressure from escalating geopolitical risks in the Middle East and a global spike in bond yield notes.

Investor sentiment was further dampened by rising crude oil prices that stoked persistent global inflation fears. Japan’s Nikkei plunged with Japan’s 10-year bond yield climbing to 30-year highs this week.

Major pullbacks were observed in Japanese equities with high exposure to global AI logistics. Nikkei tumbled by 1,715.73 points or 2.54% to 65,745.00, Straits Times dipped by 19.92 points or 0.35% to 5,681.48, Taiwan weighted plunged by 544.02 points or 1.20% to 44,764.66, KOSPI Index shrunk by 380.35 points or 5.54% to 6,489.48, Jakarta Composite dipped by 32.15 points or 0.50% to 6,417.68, Shanghai Composite narrowed by 78.13 points or 1.96% to 3,912.17, and FTSE Bursa Malaysia KLCI index curtailed by 0.65 points or 0.04% to 1,732.71.

On the flip side, Hang Seng up by 39.85 points or 0.16% to 25,511.00.