Asia-Pacific markets traded mixed Tuesday, reversing earlier gains and breaking ranks with Wall Street, which rose on revived optimism about artificial intelligence and growing hopes that the U.S. government shutdown will end soon.
In Japan, the Nikkei 225 docked 68.83 points, or 0.1%, to 50,842.93.
AI-related stocks on the Nikkei 225 pared gains, with conglomerate SoftBank adding 1.98% to 22,695, and chipmaker Renesas Electron climbing 1.14% to 1,871.
Shares of Orix rose 0.54% to 3,883, after the Japanese financial conglomerate announced Tuesday a partnership with Qatar’s sovereign wealth fund, Qatar Investment Authority, to launch a $2.5 billion private equity fund.
The fund will invest in Japanese companies, “primarily targeting business succession, privatization of listed companies, and carve-outs,” valued at least 30 billion yen (about $200 million U.S.), Orix said in a press release. Orix and QIA will contribute 60% and 40%, respectively.
Japanese tech giant Sony Group’s shares rose 5.51% to 4,520 after it reported second-quarter earnings beat and announced a share buyback of up to $648 million.
The company’s operating profit jumped 10% compared to the same period last year, while revenues rose 5%, driven by gains from its Imaging & Sensing Solutions and Music segments.
In Hong Kong, the Hang Seng gained 47.35 points, or 0.2%, to 26,696.41.
In Korea, the Kospi gained marginally after leading an AI recovery rally across the region Monday. Index heavyweights Samsung Electronics as
SK Hynix shaved earlier gains to rise 2.88%, while SK Hynix picked up 2.15%.
CHINA
The CSI 300 in Shanghai shed 42.89 points, or 0.9%, to 4,652.17.
Shares of Chinese electric vehicle maker Xpeng skyrocketed 17.93% to hit their highest level since late 2022, after it launched robotaxis and humanoid robots with self-developed AI chips at its event last Wednesday.
In other markets
In Korea, the Kospi took on 33.15 points, or 0.8%, to 4,106.39
In Singapore, the Straits Times Index rebounded 54.07 points, or 1.2%, to 4,542.20
In Taiwan, the Taiex retreated 84.56 points, or 0.3%, to 27,784.95
In Australia, the ASX 200 dipped 17.09 points, or 0.2%, to 8,818.79.
In New Zealand, the NZX 50 lost 12,93 points, or 0.1%, to 13,604.55.
