Latest News

Asia-Pacific stocks mixed; Apple supplier stocks in focus after revenue miss


SINGAPORE — Shares in Asia-Pacific were mixed in Friday trade as investors monitored stocks of Apple suppliers after the tech giant’s revenue miss.

Mainland Chinese stocks were higher by the afternoon as the Shanghai composite advanced 0.16% and the Shenzhen component gained 0.701%.

Hong Kong’s Hang Seng index shed 0.45%.

Trading in the Hong Kong-listed shares of Razer was halted on Friday “pending the release of an announcement in relation to inside information of the Company and pursuant to the Hong Kong Code on Takeovers and Mergers,” according to an exchange filing.

The Nikkei 225 in Japan recovered from earlier losses to rise 0.35% while the Topix index advanced about 0.1%. South Korea’s Kospi slipped 0.71%.

Australian stocks also fell as the S&P/ASX 200 dropped 0.71%. Australia’s retail sales rose 1.3% month-on-month in September on a seasonally adjusted basis, according to data released Friday by the country’s Bureau of Statistics. That was higher than forecasts for a 0.2% gain in retail sales, according to Reuters.

MSCI’s broadest index of Asia-Pacific shares outside Japan slipped 0.4%.

Apple supplier stocks mixed

Investors watched for movements in regional Apple supplier stocks after the company’s sales fell short of Wall Street expectations in its fiscal fourth quarter. CEO Tim Cook said there were larger-than-expected supply constraints on iPhones, iPads and Macs.

In Friday trade, shares of Alps Alpine in Japan plunged 6.41% while Murata Manufacturing climbed 0.77% and Taiyo Yuden gained 1.76%.

Over in Taiwan, shares of Hon Hai Precision Industry declined 1.38% while Taiwan Semiconductor Manufacturing Company slipped 0.84%.

In mainland China, Luxshare’s stock fell 0.797% while GoerTek jumped about 4%.

Currencies and oil

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 93.389 after seeing an earlier low of 93.322.

The Japanese yen traded at 113.64 per dollar, stronger than levels above 114 seen against the greenback earlier this week. The Australian dollar changed hands at $0.755, largely holding on to gains after climbing from below $0.75 earlier in the week.

Oil prices were higher in the afternoon of Asia trading hours, with international benchmark Brent crude futures up 0.15% to $84.45 per barrel. U.S. crude futures gained about 0.1% to $82.88 per barrel.

Cramer reacts to Apple and Amazon’s earnings, says the companies’ problems are temporary

Previous article

Meta shares spike — but it’s a Canadian materials company, not the rebranded Facebook

Next article

You may also like


Leave a reply

Your email address will not be published. Required fields are marked *

More in Latest News