Hongdae street in Seoul city, South Korea
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South Korea’s Kospi hit a record high for the third straight day Friday, as trade talks continued with the U.S., bucking wider losses in Asia.
The Kospi was the only market in positive territory, touching an intraday high of 3,794.87. Meanwhile, the Kosdaq gave up earlier gains, falling near the flatline.
Other Asia-Pacific markets traded weaker, tracking losses on Wall Street as fears over the banking sector and trade tensions intensified.
Shares of regional banks and investment bank Jefferies tumbled Thursday stateside as fears mounted around some bad loans lurking in the U.S.
Shares of Taiwan Semiconductor Manufacturing Co. fell 1.35% Friday. The chip heavyweight posted a third-quarter earnings beat after Taiwan’s market closed Thursday.
Hong Kong’s Hang Seng Index fell 1.6%, leading losses in Asia and dragged by educational and tech stocks.
Notably, Chinese automaker BYD‘s stocks fell about 2.5% after Reuters reported that the carmaker will conduct its largest recall of 115,000 vehicles due to design defects and battery-related issues.
The CSI 300 on the mainland was down 1.27%.
Japan’s Nikkei 225 lost 1.32%, while the broad-based Topix fell 0.94%.
Australia’s S&P/ASX 200 was down 0.78%.
Singapore’s non-oil domestic exports posted a sharp rebound in September, jumping 6.9% from a year earlier, defying expectations of a 2.1% drop and reversing an 11.3% fall in August.
U.S. stock futures were slightly lower on Thursday night stateside after the previous session saw a sell-off fueled by concerns about regional banks’ loan practices.
Overnight in the U.S., the Dow Jones Industrial Average lost 301.07 points, or nearly 0.7%, to close at 45,952.24. Earlier in the day, the 30-stock index had gained 170 points.
The S&P 500 finished 0.6% lower at 6,629.07, giving up a 0.6% gain at the highs of the session. The Nasdaq Composite fell 0.5% to settle at 22,562.54.
— CNBC’s Liz Napolitano, Pia Singh and Alex Harring contributed to this report.