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<Asia> Asian Markets Mostly Decline; South Korean Stocks Drop Over 3%, Capital A Rises 5%
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Asian markets mostly declined as the market continued to focus on the Middle East situation. The overnight (30th) drop in US memory stocks affected related stocks in the region, dragging down Taiwan, Japan, and South Korean markets. Australian and New Zealand markets, however, rose. China's official March manufacturing PMI and non-manufacturing PMI exceeded market expectations. The People's Bank of China conducted a seven-day reverse repo operation, with a net injection of RMB150 billion in a single day. The Shanghai Composite Index fell 15 points or 0.4% to 3,908 points at midday; the Shenzhen Component Index dropped 199 points or 1.5% to 13,526 points. The HSI in Hong Kong fell 126 points or 0.5% to 24,624 points, with a turnover of HKD132.9 billion. The Taiwan Weighted Index fell 689 points or 2.1% to 31,828 points. TSMC and MediaTek fell 0.6% and 1%, Hon Hai fell 2.6%, and Delta Electronics plunged 6.7%. The Nikkei 225 in Japan fell 632 points or 1.2% to 51,253 points. AI and semiconductor stocks were weak, with SoftBank falling 3%, Tokyo Electron and Disco falling 3.8%, Raytheon Technologies falling 5.2%, and Kioxia falling 6.2%. South Korea's KOSPI fell 172 points or 3.3% to 5,104 points. Samsung Electronics fell 3%, SK Hynix and tech investment firm SK Square fell 6.1% and 7.5%, defense stock Hanwha Aerospace fell 6.2%, Hyundai Motor and Kia fell 4.2% and 3.8%. Indian markets were closed for a holiday. The S&P/ASX 200 in Australia rose 48 points or 0.6% to 8,509 points. Gold miner Newmont rose 2.8%, mining stock Rio Tinto rose 1.3%. Westpac Banking rose 1.6%. The NZX 50 in New Zealand rose 163 points or 1.3% to 12,912 points. The Straits Times Index in Singapore rose 12 points or 0.3% to 4,910 points. OCBC rose 2.1%, DBS and UOB rose 0.4% and 0.5%. Chip tester AEM Holdings fell 3.9%. Malaysia rose 0.2%, and Capital A, the parent company of AirAsia, plans a dual listing in Hong Kong, with its stock price rising 5.1%. Indonesian and Philippine markets fell 0.3%, Thai markets were flat, and Vietnam's Hanoi and Ho Chi Minh markets each rose 0.7%. (fc/u) 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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