Asian markets traded lower on Friday, tracking the overnight sell-off on Wall Street as oil prices climbed above $100 per barrel and concerns over heavy AI spending weighed on sentiment. Investors were worried that renewed tensions in the Middle East could push inflation higher and force central banks to raise interest rates. Fresh attacks between the US and Iran, along with reports that Yemen’s Houthi rebels had joined the conflict alongside Tehran, drove oil prices higher. Tech stocks also remained under pressure as investors questioned when the huge investments in AI hardware, factories and research would begin to generate returns.
Nikkei 225 slipped 1877.6 points or 2.83% to 64,545.00, Taiwan Weighted lost 1148.95 points or 2.56% to 43,701.86, KOSPI dropped 341.18 points or 4.81% to 6,755.71, Hang Seng fell 276.81 points or 1.1% to 24,934.00, Jakarta Composite declined 110.68 points or 1.78% to 6,204.63, Shanghai Composite weakened 40.54 points or 1.05% to 3,836.24, Straits Times decreased 24.57 points or 0.44% to 5,557.19 and FTSE Bursa Malaysia KLCI index was down by 9.18 points or 0.54% to 1,705.41.
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