Sunset scene of light trails traffic speeds through an intersection in Gangnam center business district of Seoul at Seoul city, South Korea
Mongkol Chuewong | Moment | Getty Images
Asia-Pacific markets traded mixed Thursday as investors assessed the Bank of Korea’s bank rate decision.
South Korea’s central bank held its benchmark interest rate at 2.50%, in line with Reuters’ expectations, as the recent slide in the won has narrowed room for policy easing.
The country’s benchmark Kospi rose 0.57%, while the small-cap Kosdaq traded flat. The South Korean won weakened around 0.2% to 1,466.6 against the dollar.
The Nikkei 225 declined 1.05% while the Topix added 0.15%. Australia’s S&P/ASX 200 rose 0.46%.
Shares of Toyota Industries jumped 5.8% after Toyota Motors said late Wednesday it had agreed to increase its bid for Toyota Industries to 18,800 yen ($118.11) a share.
Hong Kong’s Hang Seng index futures were at 26,901, signaling a slightly weaker open from the prior close of 26,999.81.
The Japanese yen strengthened marginally to 158.34 against the dollar. Markets are watching for possible intervention by Japanese authorities after the currency slid to an 18-month low earlier this week.
Overnight in the U.S., stocks fell for a second session, pulling back further from record levels, as traders digested a fresh batch of earnings and monitored geopolitical developments.
The S&P 500 dropped 0.53% and closed at 6,926.60. The Dow Jones Industrial Average lost 42.36 points, or 0.09%, and ended at 49,149.63. The Nasdaq Composite shed 1%, settling at 23,471.75. It was the second consecutive day of losses for all three indexes.
Tech bogged down the broader market. Chip stocks in particular suffered losses, as Broadcom fell 4% and Nvidia and Micron Technology slid more than 1% each. On Wednesday, Reuters, citing people briefed on the matter, reported that Chinese customs authorities have advised customs agents that Nvidia’s H200 chips are not permitted to enter the country.
— CNBC’s Sean Conlon and Pia Singh contributed to this report.