Asian stocks fell this week, snapping a two-week rally, led by banks and oil refiners on concern earnings at banks and automakers will slow with record oil prices and a slowing US economy.
Kookmin Bank, South Korea’s biggest bank, had its biggest weekly fall this year after first-quarter profit fell by almost half. China Petroleum & Chemical Corp (中國石油化學) and PetroChina (中國石油天然氣), China’s two largest refiners, declined as oil prices touched a record.
The MSCI Asia-Pacific Index lost 1.8 percent to 148.92 this week, its first weekly decline in three weeks. A measure of financial companies had the biggest decline among the 10 industry groups on the benchmark.
PHOTO: AFP
TAIPEI
Taiwanese share prices closed down 0.84 percent on Friday.
The weighted index closed down 74.23 points at 8,792.39 on turnover of NT$131.53 billion (US$4.27 billion).
TOKYO
Japanese share prices closed more than 2 percent lower, weighed down by disappointing earning results from auto giant Toyota and a stronger yen, which is bad for exporters, dealers said.
The benchmark Nikkei-225 index fell 287.92 points or 2.06 percent to close at 13,655.34. The broader TOPIX index of all first-section shares dropped 31.19 points or 2.27 percent to end at 1,341.76.
HONG KONG
Hong Kong shares prices closed down 1.52 percent, dealers said.
The Hang Seng index closed down 386.62 points at 25,063.17.
SYDNEY
Australia’s share market closed up 0.9 percent, dealers said.
The benchmark S&P/ASX 200 gained 48.6 points to close at 5,771.8 and the broader All Ordinaries index added 43.5 points to 5,844.4.
SHANGHAI
Chinese share prices closed down 1.19 percent, dealers said.
The benchmark Shanghai Composite Index, which covers A and B shares, closed down 43.35 points at 3,613.49.
The Shanghai A-share Index shed 1.19 percent to 3,791.52. The Shenzhen A-share Index fell 0.47 percent to 1,152.61. The Shanghai B-share Index was down 0.75 percent to 258.01. The Shenzhen B-share Index fell 0.34 percent to 561.96.
SEOUL
South Korean shares closed 1.3 percent lower, dealers said.
The KOSPI index ended down 24.30 points at 1,823.70.
SINGAPORE
Singapore share prices closed down 0.31 percent, dealers said.
The blue-chip Straits Times Index closed 9.85 points lower at 3,162.03.
“In the longer term, high oil prices must have some fundamental impact,” said Chan Tuck Sing, dealing director at UOB Kay Hian.
KUALA LUMPUR
Malaysian share prices closed 0.4 percent higher, dealers said.
The Kuala Lumpur Composite Index (KLCI) closed up 4.92 points at 1,285.27.
MUMBAI
Indian share prices closed 2.01 percent lower, dealers said.
The benchmark Mumbai 30-share SENSEX fell 343.58 points to 16,737.07 points.
Authorities have detained three former Taiwan Semiconductor Manufacturing Co (TMSC, 台積電) employees on suspicion of compromising classified technology used in making 2-nanometer chips, the Taiwan High Prosecutors’ Office said yesterday. Prosecutors are holding a former TSMC engineer surnamed Chen (陳) and two recently sacked TSMC engineers, including one person surnamed Wu (吳) in detention with restricted communication, following an investigation launched on July 25, a statement said. The announcement came a day after Nikkei Asia reported on the technology theft in an exclusive story, saying TSMC had fired two workers for contravening data rules on advanced chipmaking technology. Two-nanometer wafers are the most
DEFENSE: The first set of three NASAMS that were previously purchased is expected to be delivered by the end of this year and deployed near the capital, sources said Taiwan plans to procure 28 more sets of M-142 High Mobility Artillery Rocket Systems (HIMARS), as well as nine additional sets of National Advanced Surface-to-Air Missile Systems (NASAMS), military sources said yesterday. Taiwan had previously purchased 29 HIMARS launchers from the US and received the first 11 last year. Once the planned purchases are completed and delivered, Taiwan would have 57 sets of HIMARS. The army has also increased the number of MGM-140 Army Tactical Missile Systems (ATACMS) purchased from 64 to 84, the sources added. Each HIMARS launch pod can carry six Guided Multiple Launch Rocket Systems, capable of
CHINA’s BULLYING: The former British prime minister said that he believes ‘Taiwan can and will’ protect its freedom and democracy, as its people are lovers of liberty Former British prime minister Boris Johnson yesterday said Western nations should have the courage to stand with and deepen their economic partnerships with Taiwan in the face of China’s intensified pressure. He made the remarks at the ninth Ketagalan Forum: 2025 Indo-Pacific Security Dialogue hosted by the Ministry of Foreign Affairs and the Prospect Foundation in Taipei. Johnson, who is visiting Taiwan for the first time, said he had seen Taiwan’s coastline on a screen on his indoor bicycle, but wanted to learn more about the nation, including its artificial intelligence (AI) development, the key technology of the 21st century. Calling himself an
South Korea yesterday said that it was removing loudspeakers used to blare K-pop and news reports to North Korea, as the new administration in Seoul tries to ease tensions with its bellicose neighbor. The nations, still technically at war, had already halted propaganda broadcasts along the demilitarized zone, Seoul’s military said in June after the election of South Korean President Lee Jae-myung. It said in June that Pyongyang stopped transmitting bizarre, unsettling noises along the border that had become a major nuisance for South Korean residents, a day after South Korea’s loudspeakers fell silent. “Starting today, the military has begun removing the loudspeakers,”
RSS