Asian stocks closed mixed on Friday as investors focused on domestic issues and consolidated in the wake of recent sharp gains and overnight falls on Wall Street.
Tokyo was weighed down by New York, particularly its tech sector, with the benchmark falling 0.35 percent. Taipei followed suit and fell 0.7 percent, while Seoul slumped 1.64 percent.
Mumbai dropped 0.25 percent and Wellington eased 0.13 percent, both coming off record highs, while Kuala Lumpur and Sydney ended the day even.
PHOTO: EPA
However, brighter earnings prospects propelled Singapore by 0.37 percent to another record high as Shanghai also struck an all-time closing high, up 2.73 percent on a fresh bout of capital inflows.
More modest gains were registered in Hong Kong, Bangkok and Jakarta.
TAIPEI
Share prices closed down 0.7 percent at the day's low after heavy losses in the tech stocks on Wall Street overnight and as US data dampened hopes for a US interest rate cut.
Dealers said bellwether technology stocks were hit as they followed their US peers following Apple's disappointing guidance.
The weighted index lost 55.10 points at 7,840.08 on turnover of NT$117.47 billion (US$3.58 billion).
Tank Hung, a manager with Mega International Investment Services, said the Wall Street lead offered a direction for the local bourse that was already clouded by uncertainty following the recent rebound.
"Given the recovery recently, investors were eager to take profit while those who built high positions offloaded their holdings a long time ago to cut their losses," Hung said.
He said that the Apple factor also weighed down local firms involved in the supply chain of global technology.
Looking ahead, Hung expects the local bourse to be influenced by Wall Street moves and upcoming corporate earnings reports.
TOKYO
Share prices closed 0.35 percent lower, weighed down by heavy overnight losses in tech stocks on Wall Street.
Dealers said that the market dip may have been limited by a weaker yen, which slumped to a near four-year low against the dollar after the Bank of Japan decided not to raise interest rates on Thursday.
The NIKKEI-225 index fell 60.49 points to 17,310.44. Volume fell to 1.89 billion shares from 2.30 billion on Thursday.
"A broadly-based decline in heavy-weight technology shares in the wake of the unimpressive earnings news from Apple and Intel weighed on the broader market," Shinko Securities market analyst Yutaka Miura said.
Apple on Thursday gave an earnings forecast for this quarter that was below market estimates and on Wednesday Intel Corp announced margin estimates for this year that were also lower than expectations.
HONG KONG
Share prices closed 0.25 percent firmer on gains in index heavyweight HSBC and other select blue chips as investors switched out of China plays in rotational moves.
Dealers said that trade was generally cautious following Wall Street's weakness overnight after the latest US economic data dashed hopes for an early cut in US interest rates.
The Hang Seng Index closed up 50.21 points at 20,327.72.
SEOUL
Share prices closed 1.64 percent lower, with the tech stocks extending losses after Apple's disappointing outlook guidance.
Dealers said a stronger won against the yen did not help exporters while the latest US data dampened hopes for an early US interest rate cut.
The KOSPI index lost 22.65 points at 1,360.56.
SHANGHAI
Share prices jumped 2.73 percent, chalking up another record finish on continued strong capital inflows, with banks and auto makers in favor.
The Shanghai Composite Index, which covers A and B-shares, rose 75.22 points to 2,832.21.
SYDNEY
Share prices closed flat after a flurry of late support left the market back in record territory.
The SP/ASX 200 added 0.7 points to 5,673.1.
SINGAPORE
Share prices closed at another record high Friday on selected buying of blue chips.
The Straits Times Index closed up 11.23 points or 0.37 percent.
KUALA LUMPUR
Share prices closed flat as the market took a breather after five straight days of gains.
Dealers said that construction stocks came under profit-taking pressure after posting strong gains yesterday.
The composite index inched up 0.10 points to 1,147.76.
BANGKOK
Share prices closed 0.50 percent higher on selective buying of rate-sensitive bluechip stocks amid improved sentiment among foreign investors. The composite index gained 3.28 points to 658.17.
MUMBAI
Share prices closed down 0.25 percent in choppy trade, shedding early gains as investors booked profit at higher levels after strong third-quarter earnings from Indian companies.
The 30-share SENSEX closed down 35.04 points to 14,182.71.
Intel Corp chief executive officer Lip-Bu Tan (陳立武) is expected to meet with Taiwanese suppliers next month in conjunction with the opening of the Computex Taipei trade show, supply chain sources said on Monday. The visit, the first for Tan to Taiwan since assuming his new post last month, would be aimed at enhancing Intel’s ties with suppliers in Taiwan as he attempts to help turn around the struggling US chipmaker, the sources said. Tan is to hold a banquet to celebrate Intel’s 40-year presence in Taiwan before Computex opens on May 20 and invite dozens of Taiwanese suppliers to exchange views
Application-specific integrated circuit designer Faraday Technology Corp (智原) yesterday said that although revenue this quarter would decline 30 percent from last quarter, it retained its full-year forecast of revenue growth of 100 percent. The company attributed the quarterly drop to a slowdown in customers’ production of chips using Faraday’s advanced packaging technology. The company is still confident about its revenue growth this year, given its strong “design-win” — or the projects it won to help customers design their chips, Faraday president Steve Wang (王國雍) told an online earnings conference. “The design-win this year is better than we expected. We believe we will win
Chizuko Kimura has become the first female sushi chef in the world to win a Michelin star, fulfilling a promise she made to her dying husband to continue his legacy. The 54-year-old Japanese chef regained the Michelin star her late husband, Shunei Kimura, won three years ago for their Sushi Shunei restaurant in Paris. For Shunei Kimura, the star was a dream come true. However, the joy was short-lived. He died from cancer just three months later in June 2022. He was 65. The following year, the restaurant in the heart of Montmartre lost its star rating. Chizuko Kimura insisted that the new star is still down
While China’s leaders use their economic and political might to fight US President Donald Trump’s trade war “to the end,” its army of social media soldiers are embarking on a more humorous campaign online. Trump’s tariff blitz has seen Washington and Beijing impose eye-watering duties on imports from the other, fanning a standoff between the economic superpowers that has sparked global recession fears and sent markets into a tailspin. Trump says his policy is a response to years of being “ripped off” by other countries and aims to bring manufacturing to the US, forcing companies to employ US workers. However, China’s online warriors
RSS