New Delhi, June 11 -- Asian markets traded lower on Thursday, following overnight losses on Wall Street, as investors remained cautious amid escalation of the US-Iran war, and rising inflation concerns due to elevated crude oil prices.

Japan's Nikkei 225 declined 0.44% to 63,896.82, weighed by a selloff in chip-related stocks. The benchmark fell as much as nearly 3% earlier in the session, slipping below the 63,000 level for the first time since May 22. The Topix dropped 0.85% to 3,814.97.

Japanese government bond (JGB) yields also climbed on inflation concerns. The benchmark 10-year JGB yield rose 1 bp to 2.690%. The 30-year yield added 2 bps to 3.870%.

South Korea's Kospi fell 0.62% to 7,682.53, recovering from an over 4% slump durin...