Most of the Asian markets traded in red in early deals on Thursday, due to risk aversion ahead to first quarter US GDP data, which might influence the Fed interest rate outlook. Market also tracked sharp dip in US stock futures as Meta Platforms plunged in after-hours trading on a weak revenue guidance. Technical correction after previous sessional tech led rally also pressured the indices. Japan’s Nikkei tumbled with weak global trend and as the yen's slump past 155 per dollar for the first time since 1990 raised the spectre of intervention from Tokyo. Bucking the trend, Chinese and Hong Kong stocks advanced followed by positive outlooks from major investment banks, like Goldman Sachs and UBS.
Nikkei 225 tumbled by 790.37 points 2.10% to 37,669.71, Straits Times slipped by 9.90 points 0.30% to 3,283.23, Taiwan Weighted dipped by 264.57 points or 1.31% to 19,867.17, Jakarta Composite fell by 17.30 points or 0.24% to 7,153.64, KOSPI Index curtailed by 36.84 points or 1.38% to 2,638.91 and FTSE Bursa Malaysia KLCI down 1.19 points or 0.08% to 1,570.29.
On the flip side, Hang Seng up by 94.66 points 0.55% to 17,295.93, and Shanghai Composite buoyed by 5.08 points or 0.17% to 3,049.90.