Asian Stocks Dragged Down By Wall Street Sentiment

Asian markets finished trading on a weak note, tracking Wall Street’s disappointment over weak tech earnings and amidst anxiety ahead of earnings report by chip maker TSMC.

China’s Shanghai Composite Index shed 0.92 percent to finish trading at 3,169.52. The day’s trading ranged between 3,165.67 and 3,209.06. The Shenzhen Component Index dropped 116 points or 1.1 percent to close at 10,816.27.

The Japanese benchmark Nikkei 225 shed 431 points or 1.31 percent to end trading at 32,465.00. The day’s trading range was between 32,465.00 and 32,855.50.

Taisei Corp and Subaru Corp, both rallied more than 2 percent. JFE Holdings, Toyobo Co and Nissan Motor Co, all gained more than 1 percent.

Semiconductor testing equipment maker Advantest Corp topped losses with a 4.2 percent decline. Terumo Corp also lost more than 3 percent. Yaskawa Electric Corp, Taiyo Yuden Co, and Minebea Mitsumi, all declined more than 2 percent.

The Hang Seng Index of the Hong Kong Stock Exchange erased 28 points or 0.15 percent from the previous close to finish trading at 18,924.06. The day’s trading range was between a high of 18,927.67 and a low of 18,924.06.

Korean Stock Exchange’s Kospi Index declined 0.31 percent to close trading at 2,600.23. The day’s trading range was between 2,589.29 and 2,611.34.

Australia’s S&P/ASX200 closed trading at 7,325.00 edging up 0.02 percent. The day’s trading range was between 7,322.90 and 7,383.30.

Mineral Resources surged 5.2 percent. Flight Centre Travel Group added more than 4 percent. Ampol added 3.4 percent. Real estate business Lendlease Group and travel services business Webjet, both gained more than 2 percent.

Telix Pharmaceuticals declined 14.6 percent following the quarterly business update. Gold mining business Northern Star Resources extended losses with a 6.6 percent decline. Semiconductor business Brainchip Holdings shed 5.1 percent. Pharma business Imugene dropped 4.8 percent. Sayona Mining declined 2.8 percent.

The NZX 50 of the New Zealand Stock Exchange shed 12 points or 0.10 percent to close at 11,932.10. Trading ranged between 11,882.17 and 11,961.37.

Stride Property topped gains with a 2.8 percent rally. Sanford, Argosy Property, Meridian Energy, Arvida, all rose more than 1 percent.

Pacific Edge was the biggest laggard, declining 4.4 percent. Mainfreight, Synlait Milk, Ryman Healthcare, Restaurant Brands NZ, all declined more than 1 percent overnight.

Wall Street had closed on a mildly positive note on Wednesday, ahead of major earnings updates. The Nasdaq Composite edged up 0.03 percent to close at 14,358.02 whereas the Dow Jones Industrial Average added 0.31 percent to finish trading at 35,061.21.