With no outcome from US-Iran negotiations, the US announced a blockade of the Strait of Hormuz, sending oil prices back above USD100. Asia-Pacific markets were broadly weaker.The People's Bank of China conducted seven-day reverse repo operations in the open market, resulting in a single-day net injection of RMB500 million. The Shanghai Composite Index fell 6 points, or 0.2%, to 3,979, while the Shenzhen Component Index rose 27 points, or 0.2%, to 14,336. Hong Kong's HSI fell 306 points, or 1.2%, to 25,587 at midday, with turnover of HKD115.3 billion. Taiwan's Weighted Index slipped 16 points to 35,398. TSMC fell 1%, while MediaTek and ASE Technology rose 3.5% and 7.6%, respectively.Japan's Nikkei 225 fell 629 points, or 1.1%, to 56,294. Tokyo Electron and Sony declined 3.8% and 2.7%, while SoftBank dropped 1.6% and Fast Retailing edged down 0.4%. South Korea's KOSPI fell 71 points, or 1.2%, to 5,787. Samsung Electronics and Hyundai Motor slid 2.6% and 2.5%, LG Energy Solution fell 3%, while SK Hynix rose 0.3%.India's Nifty 50 Index dropped 405 points, or 1.7%, to 23,645. Auto stocks Eicher Motors and Maruti Suzuki each tumbled more than 4%, budget carrier IndiGo fell 3.5%, and State Bank of India declined 2.9%.Australia's S&P/ASX 200 Index fell 45 points, or 0.5%, to 8,915. Retailer Wesfarmers dropped over 1%, while mining stock Rio Tinto edged up 0.2%. New Zealand's NZX 50 Index fell 190 points, or 1.4%, to 12,990.Singapore's Straits Times Index slipped 20 points, or 0.4%, to 4,968. SGX and Jardine Matheson fell 1.7% and 1.3%, while Hongkong Land declined 2.7%. Markets in Malaysia and the Philippines dropped 0.8% and 1.3%, respectively, while Indonesia rose 0.3%. Vietnam's Hanoi and Ho Chi Minh indices fell 0.1% and 0.6%. Thailand's market was closed for a holiday.(fc/u)
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