Asian markets traded mostly lower in early deals on Monday, saddled by the risk aversion in the market after recent downgrade of the US government's credit rating by Moody's from Aaa to Aa1.
China's announcement of anti-dumping duties on plastics from the US, EU, Japan, and Taiwan also dulled investor sentiments.
Moreover, mixed economic data from China has indicated struggles within its domestic economy also dulled investments.
Japans Nikkei slipped in the session after the countrys Q1 2025 GDP shrank 0.2% QoQ, worse than the expected 0.1% fall and marking the first drop in a year, reflecting the impact of US trade policies and weak external demand, particularly from China.Nikkei 225 down by 252.29 points or 0.67% to 37,501.43, Straits Times dipped by 7.81 points 0.20% to 3,890.06, Hang Seng curtailed by 114.10 points 0.49% to 23,230.95, KOSPI Index decreased by 30.71 points or 1.17% to 2,596.16, Taiwan Weighted dipped by 316.57 points or 1.45% to 21,527.12, Shanghai Composite narrowed by 1.61 points or 0.05% to 3,365.85, and FTSE Bursa Malaysia KLCI slipped by 16.19 points or 1.03% to 1,555.56.On the flip side, Jakarta Composite up by 15.61 points or 0.22% to 7,122.14.