SINGAPORE — Stocks in Asia-Pacific were lower in Friday morning trade following an overnight bounce on Wall Street on the back of better-than-expected U.S. economic data.
In Japan, the Nikkei 225 slipped 0.74% while the Topix index fell 1.23%. Japan’s industrial output rose 4% in September from the previous month, according to a preliminary report released Friday by the country’s Ministry of Economy, Trade and Industry.
South Korea’s Kospi also dipped 0.72%.Hong Kong’s Hang Seng index traded 0.39% lower.
Mainland Chinese stocks were mixed, with the Shanghai composite slightly higher while the Shenzhen component dipped 0.289%.
Meanwhile, shares in Australia fell into negative territory, with the S&P/ASX 200 down 0.3%. AMP, however, saw its stock soar more than 20% after the firm announced Friday it received a conditional takeover offer from Ares Management.
MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.28% lower.
In coronavirus developments, Moderna said Thursday it is prepping for the global launch of its potential coronavirus vaccine. That comes amid a rise in cases in the U.S. as well as Europe, with Germany and France announcing new nationwide lockdowns.
Apple suppliers lower
Shares of Apple suppliers in Asia fell in Friday morning trade. In Japan, Taiyo Yuden fell about 1.3% and Murata Manufacturing slipped 1.44% Over in South Korea, LG Display also declined 1.04%.
Hong Kong-listed shares of AAC Technologies dropped 2.26%, while Largan Precision’s stock in Taiwan shed 0.33%.
The moves came after the Cupertino-based tech giant reported fourth-quarter earnings that slightly beat Wall Street expectations. Apple, however, did not offer investors any guidance for the quarter ending in December — meaning that investors and analysts don’t get clues on the firm’s sales performance expectations of the iPhone 12, which went on sale in October.
Apple’s stock had dropped over 4% in extended trading.
Currencies and oil
The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 93.884 after rising from levels below 93.5 this week.
The Japanese yen traded at 104.47 against the greenback after weakening from levels around 104 per dollar yesterday. The Australian dollar changed hands at $0.704, having seen a decline from levels above $0.708 earlier this week.
Oil prices rose in the morning of Asian trading hours, with international benchmark Brent crude futures about 0.4% higher at $37.79 per barrel. U.S. crude futures gained 0.41% to $36.32 per barrel.
Source: CNBC