Asia-Pacific markets were mostly down in choppy trading on Thursday after U.S. stock benchmarks fell overnight, while investors assessed trade data from Japan and awaited India’s rate decision.
In Japan, the Nikkei 225 index dropped 258.47 points, or 0.7%, to 34,831.15.
In Hong Kong, the Hang Seng index poked ahead 13.97 points, or 0.1%, to 16,891.83.
Global equities and currencies plunged earlier this week after the Bank of Japan hiked interest rates to their highest levels since 2008, and the U.S. released weaker-than-expected employment numbers.
On Thursday, investors in Asia will assess trade data from Japan.
Japan’s current account surplus for June came in at 1.533 trillion yen ($10.2 billion U.S.), lower than the 1.789 trillion yen expected by economists polled by Reuters.
The Bank of Japan released a summary of opinions from their monetary policy meeting in July, revealing that some BOJ members had proposed more rate hikes.
The level of the neutral rate appears to be at least around 1% with the Bank needing to raise the policy interest rate in a timely and gradual manner, it added.
However, Shinichi Uchida, BOJ deputy governor, said on Wednesday that given the recent shocks to stock prices and foreign exchange rates in the country, the Bank needs to maintain monetary easing with the current policy interest rate.
Japanese technology investor SoftBank Group said in a statement on Wednesday that it would buy back up to 500 billion yen ($3.4 billion U.S.) of its shares as part of its efforts to boost shareholder returns. Its shares were down over 3.5% in trading.
Semiconductor equipment manufacturer Lasertec led gains on the Nikkei, up 22.6%, after it posted upbeat financial results for the year ending in June. The company reported a 39.7% increase in net sales and a 30.6% increase in operating income.
Most Japanese auto stocks were up, led by Isuzu Motors, which gained 8.9%.
Cathay Pacific, Hong Kong’s largest airline, said on Wednesday that it would buy 30 Airbus A330-900 wide-body aircrafts, with an option to buy another 30. The average price of each aircraft is estimated to be about $11 billion, with deliveries expected by the end of 2031.
In other markets
In Shanghai, the CSI 300 edged up 1.45 points to 3,341.49.
In Taiwan, the Taiex index capsized 425.18 points, or 2%, to 20,870.10.
In Singapore, the Straits Times Index inched up 12.11 points, or 0.4%, to 3,261.83.
In Korea, the Kospi index lost 11.68 points, or 0.5%, to 2,556.73.
In New Zealand, the NZX 50 sank 68.89 points, or 0.6%, to 12,257.28.
In Australia, the ASX 200 subtracted 17.85 points, or 0.2%, to 7,681.98.
