Asian shares fell, led by Sony Corp and BHP Billiton Ltd, on concern figures this week would show a drop in US home sales, signaling declining demand in the region's largest export market.
"Stocks globally take a fall every time there's more bad news on US housing-related or lending data because there's a threat that this may spill over into other parts of the economy," said Eric Betts, a strategist at Nomura Australia Ltd in Sydney. "This wouldn't be good for companies that depend on the US consumer."
rate increase?
Citic Securities Co (
Japan's Nikkei 225 Stock Average lost 0.56 percent to 18,087.48. Hong Kong's Hang Seng Index closed down 0.81 percent at 21,822.35. South Korea's KOSPI index fell 0.75 percent at 1,757.73, while Australia's key S&P/ASX 200 dropped 0.83 percent at 6,329.7.
Taiwan, Thailand and Pakistan were the only other markets in the region to rise.
US stocks dropped last Friday, sending the Standard & Poor's 500 Index to its worst week since early March. The near collapse of a Bear Stearns Cos hedge fund spurred speculation investors will have to write down the value of securities containing subprime mortgages.
decliners
Sony, the world's biggest maker of game consoles, fell 1.4 percent to ?6,460. BHP Billiton, the biggest mining company, lost 1.2 percent to A$34.94. Hynix Semiconductor Inc, the world's second-largest memory chipmaker, dropped 2.9 percent to 33,700 won. Citic Securities, China's biggest publicly traded brokerage, lost 4.6 percent to 55.55 yuan.
But China's defense-related stocks surged yesterday amid reports the government would push ahead with shareholding reforms that allow limited foreign investment in China's weapons makers.
China's Cabinet, or the State Council, the Commission of Science Technology & Industry for National Defense (COSTIND), the economic planning agency and the agency in charge of state assets agreed to push ahead with the reforms, COSTIND said in a statement on its Web site.
advancers
Hafei Aviation Industry's (
Makers of strategically sensitive weapons involving state secrets are excluded from the reforms, the statement said.
It said weapons makers should set up modern corporate management systems, establish boards of directors and restructure their businesses, the statement said.
The rules "encourage investment by domestic companies and, under conditions, allow foreign capital to participate in the shareholding reforms," it said.
Nvidia Corp yesterday unveiled its new high-speed interconnect technology, NVLink Fusion, with Taiwanese application-specific IC (ASIC) designers Alchip Technologies Ltd (世芯) and MediaTek Inc (聯發科) among the first to adopt the technology to help build semi-custom artificial intelligence (AI) infrastructure for hyperscalers. Nvidia has opened its technology to outside users, as hyperscalers and cloud service providers are building their own cost-effective AI chips, or accelerators, used in AI servers by leveraging ASIC firms’ designing capabilities to reduce their dependence on Nvidia. Previously, NVLink technology was only available for Nvidia’s own AI platform. “NVLink Fusion opens Nvidia’s AI platform and rich ecosystem for
WARNING: From Jan. 1 last year to the end of last month, 89 Taiwanese have gone missing or been detained in China, the MAC said, urging people to carefully consider travel to China Lax enforcement had made virtually moot regulations banning civil servants from making unauthorized visits to China, the Control Yuan said yesterday. Several agencies allowed personnel to travel to China after they submitted explanations for the trip written using artificial intelligence or provided no reason at all, the Control Yuan said in a statement, following an investigation headed by Control Yuan member Lin Wen-cheng (林文程). The probe identified 318 civil servants who traveled to China without permission in the past 10 years, but the true number could be close to 1,000, the Control Yuan said. The public employees investigated were not engaged in national
ALL TOGETHER: Only by including Taiwan can the WHA fully exemplify its commitment to ‘One World for Health,’ the representative offices of eight nations in Taiwan said The representative offices in Taiwan of eight nations yesterday issued a joint statement reiterating their support for Taiwan’s meaningful engagement with the WHO and for Taipei’s participation as an observer at the World Health Assembly (WHA). The joint statement came as Taiwan has not received an invitation to this year’s WHA, which started yesterday and runs until Tuesday next week. This year’s meeting of the decisionmaking body of the WHO in Geneva, Switzerland, would be the ninth consecutive year Taiwan has been excluded. The eight offices, which reaffirmed their support for Taiwan, are the British Office Taipei, the Australian Office Taipei, the
CAUSE AND EFFECT: China’s policies prompted the US to increase its presence in the Indo-Pacific, and Beijing should consider if this outcome is in its best interests, Lai said China has been escalating its military and political pressure on Taiwan for many years, but should reflect on this strategy and think about what is really in its best interest, President William Lai (賴清德) said. Lai made the remark in a YouTube interview with Mindi World News that was broadcast on Saturday, ahead of the first anniversary of his presidential inauguration tomorrow. The US has clearly stated that China is its biggest challenge and threat, with US President Donald Trump and US Secretary of Defense Pete Hegseth repeatedly saying that the US should increase its forces in the Indo-Pacific region
RSS