Asian shares ended lower on Thursday after a bullish week so far as caution set in over company earnings reports, recent choppy trading in technology stocks and prospects for more economic stimulus for a world battling a pandemic.
Earlier, Asian markets opened in the red as profit booking was witnessed across the board with the Japanese Nikkei trading lower by over 200 points in early trade.
Japanese Nikkei 225 shed 304.55 points to close 1.06% lower while South Korean Kospi sank 1.35% at the close on Thursday. Markets in Australia and New Zealand also ended in the red.
Shanghai Composite ended 0.44% lower and Shenzhen shed 0.83%. Chinese stocks saw volatility as the Central Bank withdraws cash from the system sending short term lending rates to 1 year highs. Hang Seng shed 193 points to trade 0.66% in the red.
SGX Nifty was 0.20% higher while markets in Thailand and Jakarta also ended higher.
Overnight, US markets ended the day flat as markets consolidated with earnings of large Corporates due in next few days. Nasdaq closed in the red as technology stocks saw profit booking.
Bond yields rose further as US President Joe Biden reiterates stimulus is coming, which sees yields hit 1.13%. Oil prices see further uptick as auto sales see sharp rise.
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