"Asian Stocks" South Korean stocks fell over 5%, underperforming the region; SK Hynix dropped over 8%; Nikkei retraced o…
Iran announces the indefinite closure of the Strait of Hormuz, and the U.S. military attacks Iran four times within a week, causing international oil prices to rise over 3%. The market is focused on the upcoming release of China's mainland second-quarter GDP, export, and "three-horse carriage" data. Major stock markets in the Asia-Pacific region were generally under pressure this morning (13th), with South Korean stocks falling over 5%, lagging behind the region, the Nikkei giving back over a thousand points, and Singapore stocks retreating after hitting a new high.
The three major indices of China's mainland A-shares were weak in the early session, with the Shanghai Composite Index recently at 3,970 points, down 26 points or 0.65%. The Shenzhen Component Index recently at 14,840 points, down 205 points or 1.37%. The ChiNext Index recently at 3,808 points, down 34 points or 0.9%. The Hong Kong stock market recently at 24,406 points, up 231 points or over 0.9%, with a turnover of 59.683 billion yuan.
Taiwan's stock market rose 624 points or nearly 1.4%, reporting 45,979 points. Taiwan Semiconductor rose 1.7%, and Hon Hai rose 0.8%. Memory chip stock Nanya Technology rose 2.9%, with the company's second-quarter sales flat quarter-on-quarter, but benefiting from a more than 60% quarterly increase in DRAM average selling prices, pushing gross margin to a new high of 79.5%, and operating margin also soaring to 73.7%, with a profit of over 50 billion New Taiwan dollars in the second quarter, reaching 50.192 billion New Taiwan dollars, and earnings per share of 14.66 New Taiwan dollars. Nanya Technology's capital expenditure is expected to exceed 50 billion New Taiwan dollars this year, with preliminary internal plans to increase to over 200 billion New Taiwan dollars next year.
The Nikkei index, after a sharp rise on Thursday and Friday last week, retreated this morning, currently down 1,233 points or 1.8%, reporting 67,324 points. Memory chip stock Kioxia (285A.JP) plummeted 8.8%. Major MLCC manufacturers such as Taiyo Yuden (6976.JP), Murata Manufacturing (6981.JP), and TDK (6762.JP) fell between 4.3% and 11.2%. SoftBank (9984.JP) slightly decreased by 0.3%.
South Korea's Kospi plummeted, recently reporting 7,043 points, down 432 points or 5.8%. Due to fluctuations in the KOSPI200 futures index, the effectiveness of programmatic sell orders in the securities market was suspended for five minutes. The two major heavyweight stocks dragged down the market, with Samsung falling 4%. SK Hynix ADR (SKHY.US) listed in the U.S. last Friday, closing at $168.01, 12.8% higher than the offering price. However, SK Hynix's Korean stock plummeted 8.4%, reporting 1,998,000 won, falling below the 2 million won mark, creating a one-month low. UBS previously released a report urging the purchase of SK Hynix ADR while shorting its listed Korean stock. Major MLCC manufacturer Samsung Electro-Mechanics fell 13%. Hana Financial Group rose 4.3% against the market trend.
Singapore stocks briefly rose to 5,474 points, repeatedly hitting historical highs, then retreated, currently down 0.2%, reporting 5,459 points. The Australia 200 index fell 0.3%, and the New Zealand 50 index fell 0.3% after a three-day holiday. Malaysia's KLCI fell 0.2%, while the Philippines stock market rose 0.2%. Indonesia's stock index rose 0.2%
