Asian markets traded mostly lower in early deals of Wednesday, due to sharp sell offs in technology and artificial-intelligence (AI) sector stocks amidst early results from the US midterm elections. Anticipated democratic wins in early voting led investors to price in stricter tech regulations and data centre limits. Japan’s Nikkei plunged with liquidation in highly exposed Japanese semiconductor and data-infrastructure giants. Strong local currency yen pressured foreign inflows and reduced gains in export-oriented business of the country.
Nikkei tumble by 1,961.86 points or 3.11% to 61,120.00, Taiwan Weighted wilted by 592.26 points or 1.37% to 42,715.28, KOSPI Index plunged by 78.58 points or 1.39% to 5,570.21, Shanghai Composite narrowed by 4.46 points or 0.12% to 3,603.64, Jakarta Composite dipped by 43.80 points or 0.89% to 4,860.49, and FTSE Bursa Malaysia KLCI index declined by 2.42 points or 0.15% to 1,619.43.
On the flipside, Straits Times up by 4.70 points or 0.09% to 5,198.33, and Hang Seng rose by 42.03 points or 0.18% to 23,568.00.
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