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Taiwan's Taiex suffers third‑largest point drop amid US rate‑fear sell‑off
The benchmark Taiex index slumped 1,568.16 points, a 3.48% decline—the third‑largest point fall on record. The tumble followed a sharp US market slide after stronger‑than‑expected May payrolls, prompting foreign investors to dump NT$93.85 billion (≈$2.9 billion) while local trusts bought NT$9.07 billion.
🚀 Top Asia Stocks Headlines
Oil Prices Surge as Iran Conflict Flares, While Global Stocks Skid on Selling of Tech Shares
TOKYO (AP) — Global shares sank on Monday after Wall Street ended last week with its worst day since October, while oil prices jumped more than $4 as fighting flared between Israel and Iran. South Korea’s Kospi led the global retreat, plunging 8.3% on heavy selling of technology shares and extending losses that on Friday gave the S&P 500 its biggest single day drop in months. The future for the S&P 500 was up 0.2%, while that for the Dow Jones Industrial Average lost 0.3%. Oil prices surged as Israel launched airstrikes early Monday, targeting central and western Iran in response to missile fire. Iranian state television reported the sound of explosions being heard in Isfahan, Tabriz and Tehran, without immediately elaborating. American and Iranian negotiators reached a tentative deal last week to extend their ceasefire, but the agreement has not been finalized and the latest attacks further strain efforts to end the conflict. The U.S. war with Iran has essentially blocked crude oil shipments from moving through the Strait of Hormuz. Brent crude, the international standard, jumped $4.60 to $97.69 a barrel. Benchmark U.S. crude surged $4.13 to $94.67 a barrel. In early European share trading, France's CAC 40 fell 0.7% to 8,161.42, while the German DAX dipped 0.8% to 24,552.77. Britain's FTSE 100 shed 0.4% to 10,331.24. During Asia's day, the Kospi in Seoul slipped 8.3% to 7,484.41 as Samsung Electronics, the country’s biggest company, dropped 10.2%. SK Hynix declined 7.7%. Japan’s benchmark Nikkei 225 dropped 3.9% to finish at 64,024.60. The Japanese government revised the annualized economic growth rate to 1.8% for the first quarter this year, down from an earlier estimate of 2.1%. Elsewhere in Asia, Taiwan's Taiex lost 3.5% and the Hang Seng in Hong Kong lost 1.3% to 24,642.33. The Shanghai Composite shed 1.7% to 3,959.34. Markets were closed in Australia for the King’s Birthday, a holiday. Friday marked the biggest one-day drop for Wall Street since Oct. 10, when the Trump administration threatened to impose a 100% tariff on imported goods from China. The S&P 500 sank 2.6% after a strong jobs report boosted expectations about the Federal Reserve raising interest rates this year, further darkening sentiment already dimmed by worries over a possible end to the rally in tech shares driven by the boom in investment in artificial intelligence. The Dow Jones Industrial Average fell 1.4%, while the Nasdaq composite slumped 4.2%. In currency trading early Monday, the U.S. dollar inched down to 160.23 Japanese yen from 160.25 yen. The euro cost $1.1521, up from $1.1515.
Manila Bulletin – Business
Sensex Today | Stock Market Live: Sensex Down 600 Pts, Nifty Below 23,200; Max Health, Power Grid, Apollo Hospitals Top Gainers
Sensex, Nifty, Stock Price Live Updates: Equity benchmark indices recovered from the day’s low but continued to trade in negative territory during afternoon trade on Monday amid broad-based selling pressure across sectors
The Hindu Business Line
Vinay Rajani of HDFC Sec Suggests Viyash Scientific, Federal Bank Shares to Buy in Near-Term
The Indian stock market saw heavy losses, with the BSE Sensex dropping 1.11% and Nifty 50 declining 1.22%, driven by geopolitical tensions and a global tech selloff. Rising crude oil prices raised inflation concerns, but broader indices displayed relative resilience.
Mint (LiveMint) – Markets
STI Drops as Much as 1.7% as Asia Markets Hit by Tech Sell-Off
The Kospi sinks 8.8% led by steep losses in chipmakers
The Business Times (Singapore) – Companies & Markets
Hong Kong Stocks Slump as AI Rallies in Asia Unwind on US Rate-Increase Anxiety
Hong Kong stocks slumped alongside other markets in Asia, as rising bets on an interest-rate increase after a blowout US jobs report raised the fear of capital outflows from the region and the unwinding of the AI rallies from the Chinese mainland and South Korea. The Hang Seng Index fell 1.8 per cent to 24,493.50 as of 9.30am local time. The Hang Seng Tech Index dropped 3.1 per cent. The mainland’s CSI 300 Index slid 1.9 per cent, while the Nasdaq-styled Star Market 50 Index retreated 4.2 per...
South China Morning Post — M&A (topic)
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Actually I think this was primarily a Korea-centered pullback. The KOSPI crashed 5.54% SK Hynix fell ~8.9–9.5%, Samsung Electronics ~6–6.4%. By comparison, Nasdaq fell 4.2%, S&P 500 dropped 2.6%, and other Asian indices were far milder (Nikkei –1.57%, Hang Seng –0.93%). The Korea ETF ($EWY) dropped ~14%