Equity Alert
Asian markets open lower, Kospi falls to over three-month low
This story was originally published at 08:45 IST on 28 July 2026
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Equity Alert: Asian markets open lower, Kospi falls to over three-month low
MUMBAI--0742 IST--Indices in Asia opened lower Tuesday, with South Korea's Kospi falling more than 8% to its lowest level in more than three months. Trading was halted for 20 minutes after the fall triggered circuit breakers to prevent panic selling. Japan's Nikkei 225 was down nearly 4% and the broader market index, Topix, fell over 2%.
The South Korean chip stocks fell Tuesday, with Samsung Electronics and SK Hynix falling as much as 9.5% and 11%, respectively. SK Hynix's US-listed American depository receipts closed lower at $143.02, down from their $149 initial public offering price. The fall came as investors pulled out of artificial intelligence stocks amid concerns over AI spending and competition from China.
Japan's Kioxia Holdings plunged more than 17%. Heavyweights Advantest Corp. and Tokyo Electron fell over 10% while Shin-Etsu Chemical and SoftBank fell between 4% and 6%. Shares of the marine engineering company Hanwha Ocean fell over 8%, despite reporting better than expected earnings for the quarter. This was before the Korean Exchange halted trading in index stocks.
China's CSI 300 fell 1.6%, tracking the decline in the region. Hong Kong's Hang Seng was slightly up, supported by gains in technology and industrial stocks. Hang Seng was the only regional index in the green.
Following are the levels of key indices in the region at 0732 IST:
|
Index |
Level |
Change in % |
|
Nikkei 225 Day |
62360.6 |
(-)4.0 |
|
TOPIX FIRST SECTION |
3966.28 |
(-)2.5 |
|
S&P/ASX 200 Index |
8872.50 |
(-)0.2 |
|
KOSPI Index |
6212.26 |
(-)8.0 |
|
Hang Seng Index |
25327.88 |
0.5 |
|
CSI 300 Index |
4630.81 |
(-)1.5 |
|
FTSE Singapore Strait Times |
5600.03 |
(-)0.4 |
(Deesha Jadhav)
Equity Alert: US indices close mixed ahead of Fed meet, earnings
MUMBAI--0705 IST--US indices closed mixed Monday as the market awaits earnings from major companies such as Apple, Amazon, Meta Platforms, and Microsoft, which are due this week. The spending of artificial intelligence companies still weighed on investors. Investors are estimating a 62% chance that the US Federal Reserve will leave the rates unchanged at its meeting Wednesday. This leaves a 38% chance of a 25-basis-point hike, according to the CME FedWatch tool.
The Dow Jones Industrial Average closed marginally higher. The Nasdaq Composite closed slightly higher while the S&P 500 ended almost flat. The Philadelphia semiconductor index closed 2.2% lower and is down 21% from its record high close of June. Shares of Walmart, Microsoft, and Johnson & Johnson closed between 1% and 2% higher, boosting the S&P 500. Among the 11 S&P sectors, seven closed in positive territory. Consumer staples closed up 1.6%, leading the gains, and information technology closed 1.3% higher.
The market will closely watch the consumer confidence report which is due later in the day as also the Personal Consumption Expenditures Price Index for June which is due Thursday. Earnings from Coca-Cola, UPS, Corning, and Boeing for the June quarter are due before the bell.
Following were the closing levels of major US indices Monday:
|
Index |
Level |
Change in % |
|
Dow Jones Industrial Average |
52210.08 | 0.51 |
|
NASDAQ Composite |
24932.08 | (-)0.2 |
|
S&P 500 |
7413.18 | 0.02 |
(Deesha Jadhav)
US$1 = INR 95.91
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Edited by Pankaj Aher
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