"Asian Stocks" Mixed Developments in Asia-Pacific Stock Markets, Japanese Stocks Retreat, Indonesian Stock Market Hits Record High

The Asia-Pacific stock markets showed mixed developments, with the Taiwan and South Korean markets performing well, while the Japanese market retreated as investors awaited the Federal Reserve's interest rate decision next week.

The People's Bank of China conducted a seven-day reverse repurchase operation, netting a withdrawal of 161.5 billion yuan on the same day it carried out a 1 trillion yuan term reverse repurchase operation with a maturity of 91 days. The Shanghai Composite Index closed at 3,878 points, up 3 points; the Shenzhen Component Index reported 13,057 points, up 50 points or 0.4%. The Hong Kong Hang Seng Index fell 63 points or 0.2%, closing at 25,872 points, with a turnover of 81.7 billion yuan. The Taiwan Weighted Index rose 119 points or 0.4%, closing at 27,915 points. Taiwan Semiconductor rose 0.7%, MediaTek, Hon Hai, and Quanta rose between 1.1% and 1.2%.

Japan's Nikkei Average fell 699 points or 1.4%, closing at 50,329 points. In the AI concept stocks, memory chip maker Kioxia rose 2.7%, SoftBank rose 1.9%, while Tokyo Electron and Advantest fell 2.9% and 2.5%, respectively. Additionally, Toyota, Fast Retailing, and Sony each fell over 2%. South Korea's Kospi Index rose 34 points or 0.9%, closing at 4,063 points. Samsung Electronics and LG Energy Solutions rose 2.2% and 3.4%. Hyundai Motor reached a new intraday high, rising 7.1%, stimulated by the earlier U.S. reduction of tariffs on South Korean automobiles.

Australia's S&P/ASX 200 Index rose 3 points to 8,621 points. Mining stock Rio Tinto fell 1.5%, while gold mining stock Newmont rose 2.6%. New Zealand's NZX 50 Index fell 31 points or 0.2%, closing at 13,483 points. India's Nifty 50 Index rose 36 points or 0.1%, closing at 26,070 points, with IT service provider Infosys rising 1%.

In Southeast Asia, Singapore's Straits Times Index fell 17 points or 0.4%, closing at 4,517 points. Singapore Telecommunications and Singapore Airlines fell 1.9% and 1.7%, while Frasers Property and Capitaland rose 4.3% and 2%. Malaysia's stock market fell 0.4%. Indonesia's stock market rose 0.2%, with the Jakarta Composite Index rising 15 points to 8,655 points, reaching an intraday high of 8,689 points. The Philippines stock market rose 0.6%, while Vietnam's Hanoi stock market fell 0.3%, and Ho Chi Minh stock market rose 0.4%. Thailand's stock market was closed for a holiday