This photo taken on October 23, 2022, shows people looking at fruits and vegetables outside a supermarket along a covered shopping street in Tokyo.
Richard A. Brooks | AFP | Getty Images
Asia-Pacific markets fell on Friday as Wall Street investors pulled money out of technology stocks, taking profits on the rally in stock prices in recent weeks.
“We’re seeing some profit-taking,” said Keith Buchanan, senior portfolio manager at Globalt Investments. “It’s a little tiring to see profit-taking on the fifth day of trading, but it just shows how big the rotation is.”
Meanwhile in Asia, traders are watching the continued exodus of technology stocks in the region after semiconductor-related shares in Taiwan, Japan and South Korea fell sharply on Thursday.
Japan’s inflation rate was 2.8% in June, unchanged from May, but core inflation, which excludes fresh food prices, accelerated to 2.6% from 2.5%.
However, core inflation was below the 2.7 percent forecast in a Reuters poll of economists.
| Ticker | company | name | price | change | %change |
|---|---|---|---|---|---|
| .N225 | Nikkei Stock Average | Nikkei | 40,206.30 | +79.95 | +0.20% |
| .HSI | Hang Seng Index | HSI | 17,778.41 | united nations | united nations |
| .AXJO | S&P/ASX 200 | ASX 200 | 7,941.50 | -95.00 | -1.18% |
| .SSEC | Shanghai | Shanghai | 2,975.15 | -1.99 | -0.07% |
| .KS11 | KOSPI Index | Korea Composite Stock Price Index | 2,796.35 | -28.00 | -0.99% |
| .FTFCNBCA | CNBC 100 Asia IDX | CNBC 100 | 10,081.30 | -70.42 | -0.69% |
Japan’s Nikkei stock average fell 0.16% following the inflation report, while the Tokyo Stock Price Index fell 0.28%.
South Korea’s KOSPI fell 0.93%, while the small-cap KOSDAQ lost 0.29%.
Australia’s S&P/ASX 200 fell 1.23%, leading losses in Asia.
Hong Kong Hang Seng Index futures were at 17,582, below the HSI’s last closing price of 17,778.41.
