Most Asia-Pacific stock indexes dropped in early trading Friday, though Japan’s Nikkei was an exception.
The Nikkei
NIK, +0.46%
edged up a further 0.3% amid fresh softness in the yen
USDJPY, +0.17%
versus the dollar. Meanwhile, the yield on benchmark 10-year Japanese Government Bonds was a half-basis-point higher at 0.095%. Drugmaker Eisai
4523, +2.27%
climbed more than 2% amid local reports that the company is set to reach its mid-term business-plan profit target a full year ahead of schedule, through funds obtained from a Merck partnership to market a cancer drug in Europe.
Hong Kong’s Hang Seng Index
HSI, -0.66%
was down 0.8%, with big insurer AIA
1299, -2.87%
leading the way lower after it posted earnings and reported it had to book substantial mark-to-market losses following a rise in global interest rates. Peer China Life
2628, -1.93%
was down 2% following its in-line results. Meanwhile, Landing
0582, -17.02%
plunged another 20% after the casino operator said its chairman and controlling shareholder wasn’t reachable Thursday. Shares plunged 35% Thursday morning before a trading halt.
Chinese stocks opened lower after Thursday’s strong rebound. The Shanghai Composite
SHCOMP, -0.35%
was off 0.5% and the Shenzhen Composite
399106, -0.37%
was down 0.4%. Communications, food and beverages led the decline while steel and building materials were higher. Late Thursday, trade talks between the U.S. and China ended with no apparent progress.
Australia’s benchmark ASX 200
XJO, +0.24%
bounced between losses and gains after Malcolm Turnbull was ousted as prime minister, replaced by Treasurer Scott Morrison. The news was mixed for the nation’s Big Four banks , with ANZ
ANZ, -0.07%
and Westpac
WBC, -1.92%
falling while Commonwealth Bank of Australia
CBA, +1.06%
and National Australia Bank
NAB, +0.25%
gained.
Korea’s Kospi
SEU, -0.15%
dipped, as Samsung
005930, -1.08%
and Hyundai
005380, -0.40%
declined. Benchmarks in Taiwan
Y9999, -0.52%
, Singapore
STI, -0.70%
and Malaysia
FBMKLCI, -0.45%
all fell as well, though New Zealand’s benchmark NSX-50
NZ50GR, +0.21%
gained slightly.
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Source : MTV
