03/01/2024 – 5:41
By Sergio Caldas*
São Paulo, 01/03/2024 – Asian stock markets closed mostly lower this Wednesday, with shares in South Korea and Taiwan leading the losses as Apple suppliers came under pressure after the iPhone maker was downgraded by Barclays .
In New York, Apple suffered a drop of almost 4% yesterday after Barclays downgraded its recommendation to “underweight” (below the market average).
In Seoul, the South Korean Kospi index fell by a significant 2.34% today, to 2,607.31 points, interrupting a sequence of four positive trading sessions. Under the “Apple effect”, Samsung Electronics, LG Corporation and SK Hynix fell around 3%. Taiex lost 1.65% in Taiwan, to 17,559.31 points, pressured by Taiwan Semiconductor Manufacturing Company (TSMC, -2.53%) and Hon Hai (-0.48%, also known as Foxconn.
In mainland China, stock market performance was mixed this Wednesday: the Shanghai Composite rose 0.17%, to 2,967.25 points, but the less comprehensive Shenzhen Composite fell 0.61%, to 1,812.71 points. In Hong Kong, the Hang Seng fell 0.85%, to 16,646.41 points, dragged by technology shares. In Japan, there was no business due to a holiday.
In Oceania, the Australian market followed the negative tone of Asia and was in the red. The S&P/ASX 200 fell 1.37% in Sydney, to 7523.20 points, with widespread losses led by the information technology (IT) sector.
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*With information from Dow Jones Newswires
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