Asian markets traded mostly lower in early deals on Thursday, saddled by the concerns over rising Treasury yields and the US deficit.
Fears that the proposed US budget bill could significantly raise the national debt, dulled investor sentiments.
Concerns over weakening global economic outlook also pressured the local indices.
Japans Nikkei plunged to a two-week low with the dip in export industries counting on strong local currency yen.Nikkei 225 down by 378.53 points or 1.09% to 36,920.45, Straits Times dipped by 12.71 points 0.33% to 3,869.84, Hang Seng slipped by 131.90 points 0.56% to 23,695.88, KOSPI Index decreased by 29.64 points or 1.13% to 2,595.94, Taiwan Weighted narrowed by 159.95 points or 0.73% to 21,643.96, FTSE Bursa Malaysia KLCI lower 12.04 points or 0.78% to 1,532.76.On the flip side, Jakarta Composite up by 34.61 points or 0.48% to 7,177.07, and Shanghai Composite eked higher by 0.05 points or 0.001 % to 3,387.63.