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<Asia> Asian Markets Generally Weaken; Japanese and South Korean Memory Stocks Decline; Indian Markets Closed for Holiday
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Asian markets were generally weak this morning (26th), with Japanese and South Korean memory stocks declining alongside their American counterparts, affected by Google's release of an algorithm to reduce memory usage in AI models. The rise in oil prices back above USD100 also weighed on the markets. The People's Bank of China conducted a seven-day reverse repo operation, with a net injection of RMB211 billion in a single day. The Shanghai Composite Index fell 22 points or 0.6% to 3,909 points; the Shenzhen Component Index dropped 52 points or 0.4% to 13,748 points. The Hong Kong Hang Seng Index decreased by 347 points or 1.4% to 24,988 points, with a turnover of HKD136.7 billion. The Taiwan Weighted Index rose 154 points or 0.5% to 33,593 points. TSMC increased by 0.3%, Hon Hai rose by 1%, while MediaTek and Delta Electronics fell by 1.2% and 1.6%, respectively. In the plastics sector, Formosa Chemicals surged 9.7% to hit the daily limit, while Nanya Technology once rose 9.9% to hit the limit but later narrowed to a 0.4% gain. Japan's Nikkei Index fell 209 points or 0.4% in the afternoon to 53,540 points. Memory stock Kioxia fell 4.8%. Semiconductor stock Advantest dropped 2.3%. Raytec Electronics rose 3.4%. South Korea's KOSPI fell 108 points or 1.9% to 5,534 points. Memory stocks Samsung Electronics and SK Hynix fell 3% and 4.3%, respectively, while investment company SK Square dropped 5.3%. Australia's S&P/ASX 200 Index slightly fell by 3 points or less than 0.1% to 8,530 points. Gold mining stock Newmont fell 2.7%. Commonwealth Bank of Australia rose 1.2%. New Zealand's NZX 50 Index rose 47 points or 0.4% to 12,976 points. Singapore's Straits Times Index rose 17 points or 0.4% to 4,921 points. Chip testing company AEM Holdings rose 7.7%, while marine engineering company Frencken rose 5.1%. DBS and OCBC rose 0.3% and 1%, respectively. Malaysia's market fell by less than 0.1%, Indonesia's market fell by 1.2%, Thailand and the Philippines markets fell by 0.5% and 0.9%, and Vietnam's Hanoi and Ho Chi Minh markets fell by 0.8% and 1%. Indian markets were closed for a holiday. (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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