Asia Markets
Tech Caution Limits Asian Stock Markets
Asian stock markets were mixed and relatively muted on Thursday as the tech rout mostly ebbed, but a major AI- and datacenter-related IPO slipped on its debut in Hong Kong.Tokyo and Hong Kong finished in the green, while Shanghai lost ground. Other regional exchanges were mixed on the downside.Brent oil futures held steady near $88 a barrel during Asian market hours.In Japan, the Nikkei 225 opened evenly and gained ground, finishing up 0.7% as tech issues firmed after recent bear moves.The benchmark Nikkei 225 rose 433.24 to 61,867.43, although losing issues outnumbered gainers 164 to 59, as the upside was somewhat confined to tech shares.Leading gainers was semiconductor test equipment maker Advantest, up 10.9%, while financial house Nomura declined 6.5% after reporting earnings.In economic news, Japan's consumer confidence index rose to 34.9 in July from 33.8 in June, and struck its highest level since February, reported the Cabinet Office.In Hong Kong, the Hang Seng Index closed up 0.2% as property issues firmed.The broad gauge Hang Seng rose 50.96 to 25,858.88, as gaining issues outnumbered losers 50 to 39. The Hang Seng TECH Index lost 1.3% on the day, while the Mainland Properties Index rose 0.3%.Leading the upside was New Oriental Education & Technology, up 18.8% after reporting earnings, while Semiconductor Manufacturing International declined 7.1%.In market news, China-based Zhongji Innolight shares closed down 2% after its Hong Kong trading debut, testing the $6.8 billion IPO listing. The company is a major producer of optical receivers, used in data centers and cloud networks.On the mainland, the Shanghai Composite fell 0.6% to 3,804.69.On the other regional exchanges, the South Korean KOSPI fell 1.2%; the Taiwan TWSE declined 0.3%; the Australian ASX 200 declined 0.8%; the Singapore Straits Times Index fell 0.7%, and the Thai Set declined 1.6%. In late trading in Mumbai, the Sensex was up 0.3%.The MSCI All Country Asia Pacific Index fell 0.2% on the day.
Hang SengNikkei 225Shanghai Composite