Asian share markets closed mixed in generally timid trade on Friday with a further upward spike in oil prices overnight and another fall on the Dow Jones Industrial index weighing on a number of key bourses.
Some unfavorable economic data in Japan saw Tokyo shares slip back after the market resumed trading following a holiday break on Thursday, while Australian shares which have been on a record-breaking run fell back for a second consecutive day as profit takers continued to pocket gains.
Hong Kong stocks also got the blues with the Hang Seng index off more than one percent on Wall Street's slip and profit taking ahead of the expiry of the futures contract next Tuesday. Upcoming public holidays next week also turned investors cautious.
In the Philippines, the central bank's decision to kept key interest rates intact at its monthly monetary policy meeting despite a rise in the US Fed's target rate, helped boost sentiment and fuel a one percent gain in the main index.
Taiwan share prices closed down 0.76 percent on Friday after a weaker Wall Street overnight amid concerns over rising crude oil prices, dealers said.
Sentiment was also dampened by caution ahead of the weekend and a public holiday next week, with the Mid-Autumn Festival on Tuesday when the market will be closed.
The TAIEX closed down 45.04 points at 5,892.21, off a high of 5,943.87 and a low of 5,882.88, on turnover of NT$80.9 billion (US$2.39 billion).
Japanese share prices fell 1.13 percent on Friday after Wall Street extended losses overnight on a further rise in crude oil prices and amid increased wariness over the outlook for the Japanese economy, dealers said.
The Tokyo Stock Exchange's benchmark NIKKEI-225 index lost 124.25 points to 10,895.16, its first close under 11,000 since Aug. 23. The broader TOPIX index of all First Section shares fell 11.71 points or 1.05 percent to 1,102.37.
The Tokyo market was closed on Thursday for a public holiday.
Hong Kong share prices closed the week sharply lower, dropping 1.61 percent following a fresh upturn in oil prices which prompted further losses on Wall Street overnight, dealers said.
The benchmark Hang Seng Index closed down 213.59 points at 13,066.84, off a low of 13,035.16 and high of 13,253.33.
The Hang Seng China Enterprises Index was down 87.01 points or 1.88 percent at 4,538.68, off a low of 4,511.15.
Chinese share prices closed 2.0 percent lower on Friday, reversing sharp early gains as investors took quick profits on the petrochemical and financial stocks which had led the sharp gains Thursday, dealers said.
They said there was no new lead to spark the reversal, with profit-taking simply reasserting itself after the recent sharp run-up as investors bet the government would be forthcoming with more market-friendly policies.
The Shanghai A-share Index fell 30.68 points to 1,506.14. Turnover was 28.46 billion yuan (US$3.43 billion) while the Shenzhen A-share Index was down 8.23 points or 2.12 percent at 379.80 on turnover of 17.96 billion yuan.
The benchmark Shanghai Composite Index, which covers both A- and B-shares, closed down 29.22 points or 1.99 percent at 1,435.56 on turnover of 28.67 billion yuan.
Australian share prices closed down 0.31 percent on Friday as investors decided to cash in gains from the market's prolonged rally, dealers said.
The benchmark SP/ASX 200 index closed down 11.3 points at 3,623.9, while the broader All Ordinaries index lost 10.3 points at 3,635.6.
Singapore share prices closed down 0.76 percent as investors continued to take profits after the benchmark index breached the key 2,000 points level earlier in the week, dealers said.
The Straits Times Index closed down 15.18 points at 1,973.46, and the broader All Singapore Equities index shed 1.78 points to finish at 516.24.
STILL HOPEFUL: Delayed payment of NT$5.35 billion from an Indian server client sent its earnings plunging last year, but the firm expects a gradual pickup ahead Asustek Computer Inc (華碩), the world’s No. 5 PC vendor, yesterday reported an 87 percent slump in net profit for last year, dragged by a massive overdue payment from an Indian cloud service provider. The Indian customer has delayed payment totaling NT$5.35 billion (US$162.7 million), Asustek chief financial officer Nick Wu (吳長榮) told an online earnings conference. Asustek shipped servers to India between April and June last year. The customer told Asustek that it is launching multiple fundraising projects and expected to repay the debt in the short term, Wu said. The Indian customer accounted for less than 10 percent to Asustek’s
‘DECENT RESULTS’: The company said it is confident thanks to an improving world economy and uptakes in new wireless and AI technologies, despite US uncertainty Pegatron Corp (和碩) yesterday said it plans to build a new server manufacturing factory in the US this year to address US President Donald Trump’s new tariff policy. That would be the second server production base for Pegatron in addition to the existing facilities in Taoyuan, the iPhone assembler said. Servers are one of the new businesses Pegatron has explored in recent years to develop a more balanced product lineup. “We aim to provide our services from a location in the vicinity of our customers,” Pegatron president and chief executive officer Gary Cheng (鄭光治) told an online earnings conference yesterday. “We
LEAK SOURCE? There would be concern over the possibility of tech leaks if TSMC were to form a joint venture to operate Intel’s factories, an analyst said Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday stayed mum after a report said that the chipmaker has pitched chip designers Nvidia Corp, Advanced Micro Devices Inc and Broadcom Inc about taking a stake in a joint venture to operate Intel Corp’s factories. Industry sources told the Central News Agency (CNA) that the possibility of TSMC proposing to operate Intel’s wafer fabs is low, as the Taiwanese chipmaker has always focused on its core business. There is also concern over possible technology leaks if TSMC were to form a joint venture to operate Intel’s factories, Concord Securities Co (康和證券) analyst Kerry Huang (黃志祺)
It was late morning and steam was rising from water tanks atop the colorful, but opaque-windowed, “soapland” sex parlors in a historic Tokyo red-light district. Walking through the narrow streets, camera in hand, was Beniko — a former sex worker who is trying to capture the spirit of the area once known as Yoshiwara through photography. “People often talk about this neighborhood having a ‘bad history,’” said Beniko, who goes by her nickname. “But the truth is that through the years people have lived here, made a life here, sometimes struggled to survive. I want to share that reality.” In its mid-17th to
RSS