Asia Falls on Powell Comments

Asia-Pacific markets fell on Friday amid a downbeat tone set by U.S. markets overnight, while South Korea’s benchmark index outpaced regional peers for the week.

In Japan, the Nikkei 225 lost 78.35 points, or 0.2%, to 32,568.11.

In Hong Kong, the Hang Seng Index descended 308.03 points, or 1.8%, to 17,203.26, and is poised for a weekly decline of 2.59%, which would make it the worst performer this week among Asia’s major benchmarks.

Korean markets saw weekly gains of 1.8% after a strong start to the week when the country reimposed a ban on short selling.


In Shanghai, the CSI 300 ditched 26.34 points, or 0.7%, to 3,586.49.

China’s largest chipmaker SMIC on Thursday posted a 80% drop in third-quarter profit as global demand weakness hit foundries hard.
SMIC or Semiconductor Manufacturing International Co., posted revenue of $1.62 billion U.S. in the third quarter of the year, down 15% year-on-year. Net income for that period was $93.98 million, far below analysts’ expectations of $165.1 million.

In other markets

In Taiwan, the Taiex slipped 62.98 points, or 0.4%, to 16,682.67.

In Korea, the Kospi index dipped 17.42 points, or 0.7%, to 2,409.66.

In Singapore, the Straits Times Index declined 28.64 points, or 0.9%, to 3,106.68.

In New Zealand, the NZX 50 staggered 57.26 points, or 0.5%, to 11,140.40.

In Australia, the ASX 200 slid 38.4 points, or 0.6%, to 6,976.49.

Source link

About The Author

Scroll to Top