Hang Seng plunges over 300 points, Nikkei near 1% dip: Asian markets end the day in red

Hang Seng traded in red on Thursday as investors maintained a cautious stance, awaiting new progress in trade negotiations. Asian stocks closed the day in red as US partner nations are working to secure deals to sidestep Donald Trump’s tariff threats. Oil prices also continued to fall amid growing hopes of a breakthrough on the Iran nuclear deal.Hong Kong’s Hang Seng was down 187.49 points, or 0.79%, slipping to 23,453.16 by the end of the session. Shanghai plunged 23.13 points, or 0.68%, to trade at 3,380.82. Japan’s Nikkei took the sharpest hit, dropping 372.62 points, or 0.98%, to 37,755.51. South Korea’s Kospi was also in the red, falling 19.21 points, or 0.73%, to 2,621.36.The stocks fell for the first time in five days, dragged down by fading enthusiasm over US-China trade talks, which prompted investors to look for a more cautious stance.US futures also dipped slightly, following a muted session on Wall Street where the S&P 500 added just 0.1% and the Nasdaq 100 rose 0.5%, boosted by gains in tech giant Nvidia.While Wall Street saw mixed but mostly positive trading, with the S&P 500 and Nasdaq finishing higher, though the Dow slipped, Asian markets largely moved in the opposite direction, giving up recent gains.The pullback reflects growing concern that the recent rally in global markets, fuelled by optimism around trade negotiations and signs of economic resilience, may have gone too far, too fast.China had earlier announced it would suspend export restrictions on rare earths and other military-linked goods for 90 days, following a temporary tariff truce with the United States. The move offered some reassurance to investors, alongside a UK trade pact and recent deals in the Gulf region.Currency markets saw modest movements, with the South Korean won and Japanese yen both strengthening. Traders kept a close watch on the win after reports emerged of recent discussions between the US and South Korea on currency policy.