Monday, 26 August 2019 07:30 GMT
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Asia Mostly Lower over Apple Woes




(MENAFN - Baystreet.ca) Asia Pacific stocks mostly declined on Tuesday amid dampened expectations on the U.S. Federal Reserve cutting rates this month.
In Japan, the Nikkei 225 regained 30.8 points, or 0.1%, to 21,565.15
Tensions between Japan and South Korea looked set to continue with Japan's industry minister on Tuesday saying that Japan was "not thinking at all" of withdrawing restrictions on Japanese high-tech exports to South Korea.
Apple suppliers in Asia Pacific were in focus on Tuesday. Those in Japan tumbled by the close, with TDK losing 1.51% and Nidec declining 1.79%. Alps Alpine dropped 1.50%.
The Japanese yen traded at 108.86 against the U.S. dollar, weakening from levels near 107.60 last week
In Hong Kong, the Hang Seng index dropped another 215.41 points, or 0.8%, to 28,116.28.
The city's leader Carrie Lam said Tuesday that the controversial extradition bill that led to widespread anger and massive protests in the Asian financial hub "is dead."
Suppliers in Taiwan also fell across the board. Shares of Hon Hai Precision Industry, or Foxconn, declined 1.39%, while Taiwan Semiconductor Manufacturing Company was down 0.21%. Catcher Technology plunged 1.94%.
Meanwhile, investors are keeping an eye on testimony from Federal Reserve Chair Jerome Powell due Wednesday. It follows a stronger-than-expected jobs report in the U.S. that raised questions about whether the Fed will cut interest rates.
The Australian dollar fetched $0.6945, after falling from previous levels near $0.7020.
CHINA
In Shanghai, the CSI 300 deleted 9.66 points, or 0.3%, to 3,793.13
In other company news, nine Chinese companies, among the first to list on China's NASDAQ-style tech board, announced prices of their new share offer on Tuesday, as investors braced for a busy week for initial public offerings (IPOs).
Those include China Railway Signal & Communications, Advanced Micro-Fabrication Equipment and Ningbo Ronbay New Energy Technology.
In other markets
In Korea, the Kospi index subtracted 12.14 points, or 0.6%, to 2,052.03
In Singapore, the Straits Times Index slipped 4.77 points, or 0.1%, to 3,329.46
In Taiwan, the Taiex Index faded 48.44 points, or 0.5%, to 10,702.78
In New Zealand, the NZX 50 fell 67.87 points, or 0.6%, to 10,538.11
In Australia, the ASX 200 docked 6.56 points, or 0.1%, to 6,665.69

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Asia Mostly Lower over Apple Woes

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