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<Asia> Asia-Pacific Markets Mostly Decline; Japanese and South Korean Markets See Significant Drops; Australian Bank Stocks Under Pressure
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Asia-Pacific markets mostly declined this morning (30th), as investors anticipate a prolonged Middle East conflict, with Yemeni Houthi forces joining attacks on Israel. US President Donald Trump has indicated the possibility of seizing Iran's Kharg Island to halt Iranian oil exports. The People's Bank of China conducted a seven-day reverse repo operation, with a net injection of RMB2.615 trillion in a single day. The Shanghai Composite Index rose by 9 points or 0.2% to 3,922 points at midday, while the Shenzhen Component Index fell by 16 points or 0.1% to 13,743 points. On the settlement day for Hong Kong stock futures, the HSI closed at 24,727 points at midday, down 224 points or 0.9%, with a turnover of HKD154.8 billion. The Taiwan Weighted Index dropped by 509 points or 1.5% to 32,603 points. TSMC and ASE Technology fell by 1.4% and 0.7%, respectively, while Delta Electronics and Hon Hai Precision Industry fell by 2.3% and 2.5%, respectively, and MediaTek dropped by 4.1%. Japan's Nikkei Index fell by 1,772 points or 3.3% in the afternoon, closing at 51,600 points. SoftBank fell by 8%, Advantest by 5.8%, Toyota by 4%, and Fast Retailing by 0.9%. The Bank of Japan is monitoring the yen's movement, with the yen stabilizing against the dollar, currently at 159.73 per USD. South Korea's KOSPI initially fell by nearly 5.3%, but the decline gradually narrowed, now down by 157 points or 2.9% to 5,281 points. SK Hynix and tech investment firm SK Square fell by 4.9% and 7%, respectively, Hyundai Motor by 5.4%, and Samsung Electronics by 2.5%, while battery stock LG Energy Solution rose by 3.9%. India's Nifty 50 Index fell by 258 points or 1.1% to 22,561 points. Mining stock Hindalco rose by 4.7%, while Bharti Airtel fell by 2.2% and State Bank of India by 1.5%. G Sachs downgraded India's Nifty 50 rating to "Equalweight." Australia's S&P/ASX 200 Index fell by 68 points or 0.8% at the close, to 8,448 points. Westpac Banking Corporation fell by 4.2%, Commonwealth Bank of Australia by 2.9%, while mining stock Rio Tinto rose by 4.2%. New Zealand's NZX 50 Index fell by 186 points or 1.4% at the close, to 12,748 points. Singapore's Straits Times Index rose slightly by less than 1 point to 4,899 points at midday. United Overseas Bank fell by over 1%, and chip testing company AEM Holdings fell by 3.1%. Malaysian and Indonesian markets fell by 1.3% and 0.4%, respectively, while the Thai market rose by less than 0.1%. The Philippine market fell by 2.3%, with G Sachs downgrading the Philippine market rating to "Underweight." Vietnam's Hanoi and Ho Chi Minh markets fell by 0.9% and 1.4%, respectively. (fc/da) Auto-translated by third-party software This translation was auto-generated by third-party software. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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