Asia-Pacific markets opened lower on Friday after a subdued Wall Street session. Australia’s ASX/S&P 200 dropped by 0.17 percent.
The benchmark index of Japan, the Nikkei 225, decreased by 1.36 percent, but the Topix fell by 1.12 percent. LSEG data reported that the yields on the Japanese 10-year government bond increased to 1.94 percent, a high since July 2007.
The Kospi of South Korea remained close to the flatline, and the Kosdaq Index declined by 0.25 percent. The Hang Seng Index of Hong Kong dropped 0.48 percent, and the mainland CSI 300 was flat at the same level.
Shares of Moore Threads, a Beijing-based graphics processing unit (GPU) manufacturer, also referred to as “China’s Nvidia,” surged by more than 400 percent on its debut in Shanghai after its $1.1 billion listing.
Therefore, the tech stocks are under observation by markets following recent bubble concerns. The shares of SoftBank increased by almost 4 percent, recording the third consecutive day. The shares trimmed down on some of the gains and were trading 1.02 percent up.
CEO of SoftBank, Masayoshi Son, on Monday minimized the move to sell the entire stake in the conglomerate of Nvidia, claiming that he was “was crying” over parting with the shares.
Investors will also be monitoring the next rate announcement by the Reserve Bank of India’s rate decision. The three leading averages in the U.S. traded mixed overnight.
The S&P 500 and Nasdaq Composite increased marginally as investors awaited the interest rate ruling to be announced next week by the Federal Reserve.
The broad-based index surged 0.11 percent to end at 6,857.12; therefore, the Nasdaq Composite traded higher by just 0.22 percent to finish at 23,505.14. The Dow Jones Industrial Average dropped just 31.96 points, 0.07 percent, to 47,850.94.
