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Asian equity markets moved in a mixed pattern on Thursday, with technology stocks in Japan and South Korea falling after a sharp decline in Alphabet shares. Concerns about the return on artificial‑intelligence investments and rising oil prices dampened risk appetite, according to reports from the Associated Press and Dow Jones. In Tokyo, the Nikkei 225 ended 2.1 % lower, while the broader Topix index fell 1 %. Shares of SoftBank Group dropped 6 %. Semiconductor producers Advantest, Lasertec and Kyocera recorded declines of 5.9 %, 8.8 % and 7.1 %, respectively. The Bank of Japan kept its policy rate unchanged at 1.25 %. The decision was expected after the September hike, but the central bank raised its inflation forecast for the current fiscal year. Market observers noted that the latest consumer‑price data for the Tokyo area support expectations of another rate increase in December. Industrial production in Japan rose more than forecast in September. In Seoul, the Kospi index fell 3.5 % to 5,730.74 points. SK Hynix shares fell 7.1 %, and Samsung Electronics shares dropped 3 %. In Hong Kong, the Hang Seng index rose 1.5 % to 23,311.84 points. China Petroleum & Chemical (Sinopec) shares gained 5 % after the company released its financial results. Xiaomi and Meituan shares increased 3.3 % and 3.9 %, respectively. The Shanghai Composite index closed 1.4 % lower at 3,599.02 points. The Australian S&P/ASX 200 gained 0.2 % to 8,908.10 points. Coles shares fell 7.7 % following a supermarket‑chain report, while Woolworths shares rose 1.9 %. Rio Tinto lost 2.9 % after halting underground mining at the Oyu Tolgoi copper mine due to a seismic event. The Asian declines followed losses in the United States. Alphabet Class A shares fell 12.6 %, the steepest daily drop since the company’s IPO more than two decades ago. The S&P 500 slipped 0.3 % to 7,720.39, the Dow Jones Industrial Average fell 0.3 % to 52,342.56, and the Nasdaq Composite dropped 1.4 % to 26,184.72. The yield on U.S. 10‑year Treasury bonds fell to 4.94 % from 5.05 % at the close of Wednesday. Oil prices rose amid concerns over a potential escalation of the Iran conflict. U.S. crude (WTI) increased 1.15 % to $103.17 per barrel, while Brent crude climbed 1.05 % to $116.09 per barrel. On the currency market, the U.S. dollar traded at 157.67 yen, slightly higher than the 157.65 yen earlier in the day. The euro strengthened to $1.1186 from $1.1181. Article source: 24 Chasa | Image credit: 24 Chasa
Asian equity markets moved in a mixed pattern on Thursday, with technology stocks in Japan and South Korea falling after a sharp decline in Alphabet shares. Concerns about the return on artificial‑intelligence investments and rising oil prices dampened risk appetite, according to reports from the Associated Press and Dow Jones. In Tokyo, the Nikkei 225 ended 2.1 % lower, while the broader Topix index fell 1 %. Shares of SoftBank Group dropped 6 %. Semiconductor producers Advantest, Lasertec and Kyocera recorded declines of 5.9 %, 8.8 % and 7.1 %, respectively. The Bank of Japan kept its policy rate unchanged at 1.25 %. The decision was expected after the September hike, but the central bank raised its inflation forecast for the current fiscal year. Market observers noted that the latest consumer‑price data for the Tokyo area support expectations of another rate increase in December. Industrial production in Japan rose more than forecast in September. In Seoul, the Kospi index fell 3.5 % to 5,730.74 points. SK Hynix shares fell 7.1 %, and Samsung Electronics shares dropped 3 %. In Hong Kong, the Hang Seng index rose 1.5 % to 23,311.84 points. China Petroleum & Chemical (Sinopec) shares gained 5 % after the company released its financial results. Xiaomi and Meituan shares increased 3.3 % and 3.9 %, respectively. The Shanghai Composite index closed 1.4 % lower at 3,599.02 points. The Australian S&P/ASX 200 gained 0.2 % to 8,908.10 points. Coles shares fell 7.7 % following a supermarket‑chain report, while Woolworths shares rose 1.9 %. Rio Tinto lost 2.9 % after halting underground mining at the Oyu Tolgoi copper mine due to a seismic event. The Asian declines followed losses in the United States. Alphabet Class A shares fell 12.6 %, the steepest daily drop since the company’s IPO more than two decades ago. The S&P 500 slipped 0.3 % to 7,720.39, the Dow Jones Industrial Average fell 0.3 % to 52,342.56, and the Nasdaq Composite dropped 1.4 % to 26,184.72. The yield on U.S. 10‑year Treasury bonds fell to 4.94 % from 5.05 % at the close of Wednesday. Oil prices rose amid concerns over a potential escalation of the Iran conflict. U.S. crude (WTI) increased 1.15 % to $103.17 per barrel, while Brent crude climbed 1.05 % to $116.09 per barrel. On the currency market, the U.S. dollar traded at 157.67 yen, slightly higher than the 157.65 yen earlier in the day. The euro strengthened to $1.1186 from $1.1181.
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