Markets continued to monitor the meeting between Chinese and US leaders and developments in the Middle East. Major Asia-Pacific equity markets showed mixed performance today (12th). Mainland China A-shares opened higher but closed lower, with the Shanghai Composite Index and Shenzhen Component Index falling 0.25% and 0.47% respectively to close at 4,214 and 15,824. Taiwan stocks rose 108 points, or 0.3%, to 41,898. TSMC rebounded 0.9%. The HSI in Hong Kong closed down 58 points, or 0.2%, at 26,347, with turnover of HKD262.647 billion.

The Nikkei index rebounded 324 points, or 0.5%, to 62,742. SoftBank and Sony rose 4.3% and 3.3% respectively, while wire and cable maker Fujikura surged 11.6%. South Koreas Kospi retreated from a historical peak, falling 179 points, or 2.3%, underperforming the region to close at 7,643. Heavyweights Samsung Electronics and SK Hynix declined 2.3% and 2.4% respectively.

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Other Asia-Pacific markets were mixed. Thailands SET 50 and Malaysias KLCI edged up 0.2% to 0.3%. Vietnams Hanoi Index and Ho Chi Minh Index rose 2.1% and 0.4% respectively. The Philippines PSEI and Singapore stocks slipped 0.2% to 0.3%, while Indonesias IDX fell 1.4%. Australias ASX 200 and New Zealands NZX 50 dropped 0.4% and 1% respectively.

Indias Nifty 50 fell 288 points, or 1.2%, to 23,527. The BSE Sensex dropped nearly 1.3% to 75,062. According to foreign media citing sources, the Indian government is considering emergency measures to protect foreign exchange reserves, including raising fuel prices and restricting non-essential imports such as gold and electronic products, to cushion the impact of the conflict involving Iran. Sources said the Prime Ministers Office and the Ministry of Finance have discussed several measures with the Reserve Bank of India to limit the damage from a sharp rise in oil prices, although no final decision has been made.

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