Asian markets lose steam after four sessions of run-up; Nikkei down over 1%

Most Asian markets retreated in early Thursday as investors turned to the sidelines following four days of gains amid US-China trade deal as well as hopes of strong AI demand. The key MSCI Asia ex Japan index traded higher by a tad.

The sentiment boosted by the US-China trade deal now seems to be fading, also investors are awaiting US deal with the rest of the Asian economies.

Meanwhile, investors’ focus now shifts to earnings by Chinese internet major – Alibaba.

Asian markets performance

Japan’s Nikkei was down over 1 per cent

South Korea’s Kospi down 0.29 per cent

Taiwan Weighted is up 0.03 per cent

Wall Street index futures

In early Asian market trade, Dow Jones and S&P 500 futures traded in the red, while only Nasdaq futures traded with mild gains.

Investors turn watchful of the upcoming address by Fed Chairman Jerome Powell later today.

Gold prices

Gold prices in the futures markets internationally were down 1 per cent at $3,156.5 per ounce. The continued losses in the gold prices comes as gold loses its sheen amid settling trade tensions. Interestingly, gold price have toppled from $3,509 per ounce level.