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Informist, Thursday, Jul. 2, 2026                                      Tel +91 (22) 6985-4000

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Equity Alert: Asian indices mixed, Kospi falls 7% but pares losses

 

MUMBAI--0800 IST--Asian equity indices were mixed in early trade on Thursday, with South Korea's Kospi leading the losses. The South Korean index tumbled more than 5% at open, prompting the exchange to temporarily halt trading to curtail volatility. The index has fallen 7% since open. This comes amid a fall in semiconductor stocks and the country's inflation rate hitting the highest since December 2023, which increases chances of a rate hike by Bank of Korea later this month. Meanwhile, indices in Hong Kong and Singapore and Japan's Topix were higher.

 

Inflation in South Korea came in at 3.2% for June, a two year-high. While the June reading was largely in line with expectations, it was the fourth straight month of rise. The South Korean central bank will hold its monetary policy meeting on Jul. 16. The country's headline index came off lows and was down 2.5% at 0742 IST.

 

Samsung Electronics Co. and SK Hynix Inc. fell at least 8?ch. US peers Micron Technology and Sandisk Corp. had closed 10% down each. This was after Bloomberg reported Meta building a cloud business to sell excess artificial intelligence computing capacity. This raised questions about in artificial intelligence capacity, inducing a sell-off in chipmakers. 
 

"One of the characteristics of the bull market has been rotation. The attribute has been on full display in 2026," Ned Davis Research Strategist Rob Anderson was quoted as saying by CNBC. "A passing of the baton to a non-commodity cyclical sector would be further evidence that the stock market is entering the second half of the year in a position of strength and that the bull market can continue deep into the second half of the year."

 

Following are the levels of key indices in the region at 0742 IST:

 

Index	Level	Change in %
CSI 300 Index	4879.22	(-)1.61
Hang Seng Index	23327.50	1.95
Nikkei 225 Day	69801.74	(-)0.96
TOPIX FIRST SECTION	4048.20	0.91
KOSPI	8095.48	(-)2.50
FTSE Singapore Strait Times	5187.21	0.50
S&P/ASX 200 Index	8718.50	(-)0.05

 

(Gopika Balasubramanium)

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Equity Alert: US mkt ends down, chip stocks drag Nasdaq; Dow hits record high

 

MUMBAI--0750 IST--Headline stock indices in the US closed slightly lower on Wednesday amid a fall in semiconductor stocks, which dragged down the Nasdaq. However, the fall in the index was limited, as some technology stocks gained. The Dow Jones Industrial Average hit a record high but pared gains to close flat. Caution prevailed among market participants as the US and Iran are far from reaching a lasting peace deal. Officials from both nations met in Doha for a round of indirect talks Wednesday. 

 

On Wednesday, the Nasdaq closed around 1% lower. Elevated valuations and huge spending on artificial intelligence by technology companies have been a concern for some market participants. Nvidia and Broadcom fell roughly 1% and 2%, respectively, in the session. Shares of Meta Platform rose 8.8?ter Bloomberg News reported that the company was building a cloud business to sell excess artificial intelligence computing capacity.

 

"The 'Great Rotation' trade persists into (the third quarter) as the blue boring names of the Dow Jones [Industrials] continue to attract inflows directly from recent profit taking money from tech stocks," Jeff Kilburg, founder and CEO of KKM Financial, told CNBC. "This is extremely healthy and underscores the broadening breadth of equities for this continued bull market in its fourth year."

 

Traders also tracked fresh economic data on manufacturing activity and comments by US Federal Reserve Chair Kevin Warsh earlier in the day at the European Central Bank conference in Portugal. While Warsh did not give any hints about the monetary policy decision at the upcoming meeting this month, he said "we've seen that prices are too high," CNBC reported. Meanwhile, data from the Institute for Supply Management showed manufacturing activity slowed in June but was still solid, Reuters reported. Traders will now track employment data slated to be released later in the day.

 

Following were the closing levels of major US indices on Wednesday:

 

US Indices	Levels	Change in %
Dow Jones Industrial Average	52305.24	(-)0.03
NASDAQ Composite	26040.03	(-)0.66
S&P 500	7483.23	(-)0.22

 

(Gopika Balasubramanium)

 

US$1 = INR 95.25

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Edited by Avishek Dutta

 

All prices from National Stock Exchange, unless otherwise specified.

All percentage changes for share prices are rounded off to the nearest whole number; percentage changes for index values are rounded off to one decimal place.

All times are Indian Standard Time.

 

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