Asia-Pacific markets opened lower on Friday after weaker trading on Wall Street.
Australia’s ASX/S&P 200 fell 0.17%.
Japan’s benchmark Nikkei 225 lost 1.36%, while the Topix fell 1.12%. Yields on Japan’s 10-year government bonds rose to 1.94%, the highest since July 2007, LSEG data showed.
South Korea’s Kospi remained just below stagnation, while the Kosdaq index retreated by 0.25%.
Hong Kong’s Hang Seng index fell 0.48%, while the mainland’s CSI 300 remained flat at the open.
Shares of Moore Threads, the Beijing-based graphics processing unit (GPU) maker often referred to as the “Nvidia of China,” surged more than 400% in its Shanghai debut after a $1.1 billion IPO.
Markets are closely watching tech stocks amid recent bubble concerns. Shares of SoftBank rose nearly 4%, recording a third straight day of gains. The stock pared some gains and last traded 1.02% higher.
Founder Masayoshi Son on Monday downplayed the decision to sell the conglomerate’s entire stake in Nvidia, saying he was “crying” to part with the shares, SEEbiz reports.
India’s Nifty 50 rose 0.2% after the Reserve Bank of India cut its benchmark interest rate by 25 basis points to 5.25%, matching the forecasts of economists polled by Reuters.
The monetary policy committee unanimously cut the interest rate, citing “weakness in some key economic indicators”, even as headline inflation eased significantly and is expected to be revised lower in the first quarter of 2025, RBI Governor Sanjay Malhotra said.
