Japan's Indexes Snapped Two-Day Losing Streak, Bain Sold Remaining Stake In Kioxia

Japan's indexes rebounded on Thursday and halted a two-day slide amid a rebound in tech stocks. 

The Nikkei 225 Stock Average gained 1.6%, the broader TOPIX increased 0.3%, and the yen weakened to 162.38 against the U.S. dollar.

Japan's stocks responded positively to a rebound in memory and chipmakers during overnight trading, following the oversubscription of SK Hynix's U.S. IPO by seven times, which underscored the sustained demand for AI infrastructure-linked stocks.

Investors also reviewed the latest minutes of the U.S. Fed's policy meeting held on June 16-17, and policymakers remained divided over the interest rate outlook. 

Overall inflation has hovered above the Fed's target rate of 2% for more than five years, and the latest bout of inflation is rooted in the Middle East conflict, which some policymakers viewed as transitory. 

However, many policymakers worried that the surge in artificial intelligence infrastructure would keep inflation elevated by lifting prices for advanced chips and other electronic goods. 

Most Fed watchers and market analysts are anticipating the Federal Reserve to raise the key lending rate by 25 basis points before the year's end and after the midterm elections. 

Japan Indexes and Stocks 

The Nikkei 225 Stock Average increased 1.6% to 67,889.07, and the broader TOPIX rose 0.3% to 4,018.08. 

Kioxia Holdings soared 6.6% to ¥76,590.0 after strong interest in the U.S. listing of South Korea's SK Hynix supported demand for artificial intelligence infrastructure providers. 

Bain Capital sold its entire stake in the memory maker after steadily trimming its holdings over the last eighteen months, said managing partner David Gross according to Bloomberg.

Bain led the memory-makers' $18 billion buyout in 2018, and Kioxia was listed on the Tokyo Stock Exchange on December 18, 2024. 

Kioxia Holdings listed its stock at a price of 1,455 per share and raised 120 billion yen, or $800 million. 

China's Inflation Eased In May; PBoC Reiterated Accommodative Stance

China's indexes lacked direction on Thursday, and investors welcomed the central bank's reassurance of keeping monetary policy appropriately loose. 

The Hang Seng Index decreased 0.7%, the mainland-focused CSI 300 Index edged up 0.1%, and the 10-year government bond yield fell to a one-week low of 1.73% as investors reacted to the PBoC's willingness to provide liquidity.

The PBoC said it is willing to supply additional liquidity to support demand while acknowledging the imbalance between strong supply and weak demand.

China's annual consumer inflation eased 1.0% in June from 1.2% in May, marking the softest increase in three months, according to the National Bureau of Statistics.

Food prices fell for the third consecutive month but decreased at a slower annual pace of 1.6% from 1.7% in May. 

Core inflation, which excludes food and energy prices, slowed to 1.0% from a 1.1% rise in May, confirming a weak demand growth outlook. 

Producer price inflation accelerated to 4.1% in June from 3.9% in May, said the NBS in a separate report. 

China's factory-gate prices advanced for the fourth consecutive month after falling for 41 months in a row, driven by the conflict in the Middle East and soaring prices of imported energy.  

In overnight trading, market averages in New York retained a downward bias amid concerns that the elevated level of AI infrastructure investment is not sustainable. 

Brent crude oil prices edged up 1.3% to $78.83 a barrel after tensions in the Middle East escalated, and the U.S. struck as many as 90 targets in Iran. 

Iran resumed its aerial strikes targeting the U.S. military bases in Kuwait, Bahrain, and Qatar in the Gulf and stepped up precision strikes on commercial ships in the Strait of Hormuz.

China Indexes and Stocks 

The Hang Seng Index decreased 0.7% to 24,020.61, and the mainland-focused CSI 300 Index edged up 0.1% to 4,758.39. 

Technology stocks led gainers in Shanghai, Shenzhen, and Hong Kong on Thursday. 

Eoptolink Technology gained 3%, Zhongji Innolight added 3.3%, and NAURA Technology increased 2.7%. 

Energy companies advanced following a 1% rebound in crude oil prices. 

CNOOC gained 1.2%, and PetroChina increased 1.1%.

China's Inflation Eased In May; PBoC Reiterated Accommodative Stance

China's indexes lacked direction on Thursday, and investors welcomed the central bank's reassurance of keeping monetary policy appropriately loose. 

The Hang Seng Index decreased 0.7%, the mainland-focused CSI 300 Index edged up 0.1%, and the 10-year government bond yield fell to a one-week low of 1.73% as investors reacted to the PBoC's willingness to provide liquidity.

The PBoC said it is willing to supply additional liquidity to support demand while acknowledging the imbalance between strong supply and weak demand.

China's annual consumer inflation eased 1.0% in June from 1.2% in May, marking the softest increase in three months, according to the National Bureau of Statistics.

Food prices fell for the third consecutive month but decreased at a slower annual pace of 1.6% from 1.7% in May. 

Core inflation, which excludes food and energy prices, slowed to 1.0% from a 1.1% rise in May, confirming a weak demand growth outlook. 

In overnight trading, market averages in New York retained a downward bias amid concerns that the elevated level of AI infrastructure investment is not sustainable. 

Brent crude oil prices edged up 1.3% to $78.83 a barrel after tensions in the Middle East escalated, and the U.S. struck as many as 90 targets in Iran. 

Iran resumed its aerial strikes targeting the U.S. military bases in Kuwait, Bahrain, and Qatar in the Gulf and stepped up precision strikes on commercial ships in the Strait of Hormuz.

China Indexes and Stocks 

The Hang Seng Index decreased 0.7% to 24,020.61, and the mainland-focused CSI 300 Index edged up 0.1% to 4,758.39. 

Technology stocks led gainers in Shanghai, Shenzhen, and Hong Kong on Thursday. 

Eoptolink Technology gained 3%, Zhongji Innolight added 3.3%, and NAURA Technology increased 2.7%. 

Energy companies advanced following a 1% rebound in crude oil prices. 

CNOOC gained 1.2%, and PetroChina increased 1.1%.

U.S. and Global Markets Fell Sharply as US-Iran Tensions Escalate

Wall Street indexes plunged amid resurgent of hostilities in the Middle East and soaring oil prices. 

The S&P 500 Index decreased 1%, and the tech-heavy Nasdaq Composite declined 1.2% as sentiment towards the semiconductor and tech stocks remained weak. 

West Texas Intermediate crude oil prices rose 5% to $74.02 a barrel, and the Brent crude oil price advanced 4.6% to $77.56 a barrel as tensions in the Middle East fueled further supply disruptions.

The U.S. president declared that the ceasefire with Iran is "over." blaming the recent Iranian attacks in the Strait of Hormuz. The U.S. also carried out several surgical strikes on targets in Iran and nearby islands. 

Iran conducted the latest wave of attacks in the Strait of Hormuz following persistent bombings by the Israeli forces in southern Lebanon, breaking the terms of the U.S.-Iran agreement. 

The latest Fed's meeting minutes are scheduled to be released later in the day, and divided officials are likely to highlight concerns over persistent inflation. 

However, policymakers are likely to support only one rate hike later in the year, most likely after the mid-term federal elections in early November.     

Across the Atlantic, benchmark indexes in Germany decreased 1.8%, in France fell 1.7%, and in the UK dropped 1.6%. 

The market sentiment over the semiconductor equipment and memory stocks remained weak, and the benchmark indexes in South Korea decreased about 5% for the second consecutive session. 

The Nikkei 225 Stock Average declined 0.7%, the broader TOPIX fell 0.6%, and the yen traded at 162.45 against the US dollar. 

U.S. Movers 

Energy producers jumped after the U.S. president declared the end of ceasefire with Iran. 

Exxon Mobil increased 1.5%, Chevron increased 2%, Marathon Petroleum jumped 2.5%, and ConocoPhillips advanced 1.9%. 

Semiconductor and memory stocks led the decliners in New York for the second week in a row amid worries that the AI infrastructure investment is likely to cool down. 

SanDisk decreased dropped 4.5% to $1,550.67, Micron Technology fell 3.5% to $905.39, Intel eased 1.5% to $108.72, and Nvidia Corp. declined 1% to $194.95.  

U.S. and Global Markets Fell Sharply as US-Iran Tensions Escalate

Wall Street indexes plunged amid resurgent of hostilities in the Middle East and soaring oil prices. 

The S&P 500 Index decreased 1%, and the tech-heavy Nasdaq Composite declined 1.2% as sentiment towards the semiconductor and tech stocks remained weak. 

West Texas Intermediate crude oil prices rose 5% to $74.02 a barrel, and the Brent crude oil price advanced 4.6% to $77.56 a barrel as tensions in the Middle East fueled further supply disruptions.

The U.S. president declared that the ceasefire with Iran is "over", blaming the recent Iranian attacks in the Strait of Hormuz. The U.S. also carried out several surgical strikes on targets in Iran and nearby islands. 

Iran conducted the latest wave of attacks in the Strait of Hormuz following persistent bombings by the Israeli forces in southern Lebanon, breaking the terms of the U.S.-Iran agreement. 

The latest Fed's meeting minutes are scheduled to be released later in the day, and divided officials are likely to highlight concerns over persistent inflation. 

However, policymakers are likely to support only one rate hike later in the year, most likely after the mid-term federal elections in early November.     

Across the Atlantic, benchmark indexes in Germany decreased 1.8%, in France fell 1.7%, and in the UK dropped 1.6%. 

The market sentiment over the semiconductor equipment and memory stocks remained weak, and the benchmark indexes in South Korea decreased about 5% for the second consecutive session. 

The Nikkei 225 Stock Average declined 0.7%, the broader TOPIX fell 0.6%, and the yen traded at 162.45 against the US dollar. 

U.S. Movers 

Energy producers jumped after the U.S. president declared the end of ceasefire with Iran. 

Exxon Mobil increased 1.5%, Chevron increased 2%, Marathon Petroleum jumped 2.5%, and ConocoPhillips advanced 1.9%. 

Semiconductor and memory stocks led the decliners in New York for the second week in a row amid worries that the AI infrastructure investment is likely to cool down. 

SanDisk decreased dropped 4.5% to $1,550.67, Micron Technology fell 3.5% to $905.39, Intel eased 1.5% to $108.72, and Nvidia Corp. declined 1% to $194.95.  

Nikkei and Kospi Extended Weekly Losses Amid Sell Off In Semi Stocks and Escalating Middle East Tensions

Japan's indexes decreased for the second consecutive session, tracking losses in tech stocks in overnight trading in New York. 

The Nikkei 225 Stock Average declined 0.7%, the broader TOPIX fell 0.6%, and the yen traded at 162.45 against the U.S. dollar. 

Semiconductor-linked stocks led decliners for the second session in a row amid worries that the global investment in AI infrastructure may cool down faster than previously estimated. 

Technology and consumer electronics account for about 50% of the Nikkei 225 weight. 

The market sentiment over the semiconductor equipment and memory stocks remained weak, and the benchmark indexes in South Korea decreased about 5% for the second consecutive session. 

The two leading electronics companies—SK Hynix and Samsung Electronics—account for about 40% of the benchmark index, and turbulence in tech stocks adds to volatility in broader market averages. 

Escalating tensions in the Middle East also weighed on the market sentiment, and investors reacted to rising oil prices. 

The U.S. and Iran exchanged aerial attacks over the Strait of Hormuz, and both warring nations reimposed their blockade on commercial shipments. 

Japan Indexes and Stocks 

The Nikkei 225 Stock Average decreased 0.7% to 67,769.84, and the broader TOPIX dropped 0.6% to 4,040.28. 

Tokyo Electron decreased 1.5%, Advantest Corp. fell 2%, SoftBank Group gained 2%, Ibiden Co. declined 3%, and Kioxia Holdings traded up 2.2%.

Nikkei and Kospi Extended Weekly Losses Amid Sell Off In Semi Stocks and Escalating Middle East Tensions

Japan's indexes decreased for the second consecutive session, tracking losses in tech stocks in overnight trading in New York. 

The Nikkei 225 Stock Average declined 0.7%, the broader TOPIX fell 0.6%, and the yen traded at 162.45 against the U.S. dollar. 

Semiconductor-linked stocks led decliners for the second session in a row amid worries that the global investment in AI infrastructure may cool down faster than previously estimated. 

Technology and consumer electronics account for about 50% of the Nikkei 225 weight. 

The market sentiment over the semiconductor equipment and memory stocks remained weak, and the benchmark indexes in South Korea decreased about 5% for the second consecutive session. 

The two leading electronics companies—SK Hynix and Samsung Electronics—account for about 40% of the benchmark index, and turbulence in tech stocks adds to volatility in broader market averages. 

Escalating tensions in the Middle East also weighed on the market sentiment, and investors reacted to rising oil prices. 

The U.S. and Iran exchanged aerial attacks over the Strait of Hormuz, and both warring nations reimposed their blockade on commercial shipments. 

Japan Indexes and Stocks 

The Nikkei 225 Stock Average decreased 0.7% to 67,769.84, and the broader TOPIX dropped 0.6% to 4,040.28. 

Tokyo Electron decreased 1.5%, Advantest Corp. fell 2%, SoftBank Group gained 2%, Ibiden Co. declined 3%, and Kioxia Holdings traded up 2.2%.

A Rebound In Semiconductor Stocks Lifted China Indexes, Escalating Middle East Tensions Weighed

China's indexes halted a three-day slide and overlooked rising tensions in the Middle East. 

The Hang Seng Index soared 2.4% to 4,821.65, and the mainland-focused CSI 300 Index edged up 0.6% to 4,821.65. 

AI- and semiconductor-linked stocks rebounded as investors searched for bargains following a steep sell-off in the previous session amid worries that massive investment in global AI infrastructure may not be sustainable. 

Samsung Electronics extended a two-day loss to 10% despite reporting a 19-fold increase in second quarter profit as investors focused on escalating costs of expansion and a possible decrease in demand growth. 

In yesterday's trading, benchmark indexes in South Korea plunged 5% and in Japan fell 2%, and the sell-off rippled to markets in Europe and in New York. 

The renewed tensions in the Middle East raised doubts about ongoing discussions aimed at securing a lasting peace agreement between the U.S. and Iran.

Brent crude oil prices rose 2.6% to $76.01 a barrel after the U.S. escalated pressure on Iran by conducting new airstrikes and reimposed a blockade of shipments. 

China Indexes and Stocks 

The Hang Seng Index increased 2.4% to 24,070.89, and the mainland-focused CSI 300 Index advanced 0.6% to 4,821.65. 

Financial services. Industrial and technology stocks led gainers in Shanghai and Hong Kong trading. 

Industrial and Commercial Bank of China jumped 3.4% to HK $6.71, China Construction Bank advanced 3.4% to HK $8.13, HSBC Holdings plc gained 0.1% to HK $153.30, and China CITIC Bank increased 2.9% to HK $6.91. 

A Rebound In Semiconductor Stocks Lifted China Indexes, Escalating Middle East Tensions Weighed

China's indexes halted a three-day slide and overlooked rising tensions in the Middle East. 

The Hang Seng Index soared 2.4% to 4,821.65, and the mainland-focused CSI 300 Index edged up 0.6% to 4,821.65. 

AI- and semiconductor-linked stocks rebounded as investors searched for bargains following a steep sell-off in the previous session amid worries that massive investment in global AI infrastructure may not be sustainable. 

Samsung Electronics extended a two-day loss to 10% despite reporting a 19-fold increase in second quarter profit as investors focused on escalating costs of expansion and a possible decrease in demand growth. 

In yesterday's trading, benchmark indexes in South Korea plunged 5% and in Japan fell 2%, and the sell-off rippled to markets in Europe and in New York. 

The renewed tensions in the Middle East raised doubts about ongoing discussions aimed at securing a lasting peace agreement between the U.S. and Iran.

Brent crude oil prices rose 2.6% to $76.01 a barrel after the U.S. escalated pressure on Iran by conducting new airstrikes and reimposed a blockade of shipments. 

China Indexes and Stocks 

The Hang Seng Index increased 2.4% to 24,070.89, and the mainland-focused CSI 300 Index advanced 0.6% to 4,821.65. 

Financial services. Industrial and technology stocks led gainers in Shanghai and Hong Kong trading. 

Industrial and Commercial Bank of China jumped 3.4% to HK $6.71, China Construction Bank advanced 3.4% to HK $8.13, HSBC Holdings plc gained 0.1% to HK $153.30, and China CITIC Bank increased 2.9% to HK $6.91. 

Chip Stocks Sell-Off Ripples from Asia to New York After Samsung Earnings

Benchmark indexes turned lower on Tuesday as investors continued to avoid high-flying AI-related stocks. 

The S&P 500 Index decreased 0.1%, and the tech-dominated Nasdaq Composite declined 0.9%, and investors rotated out of AI-related names into financials, healthcare, and industrials. 

Chips and memory stocks dived for the second session even after Samsung Electronics reported a 19-fold rise in income in the second quarter. 

Shares of Micron, Marvell Technology, SanDisk, Nvidia, and AMD decreased between 2% and 7% following the reaction to Samsung results. 

Benchmark indexes in Japan dropped 2% and in South Korea fell 5%, and the weakness in tech stocks rippled to markets in Europe. 

Market averages in Germany decreased 0.6%, but in France and the U.K., they advanced 0.3%, respectively. 

Crude oil prices advanced 0.6% to $68.50 a barrel, and the Brent crude oil price inched higher 0.8% to $72.53 a barrel following reports of Iranian attacks on commercial ships in the Strait of Hormuz. 

In the absence of any major earnings releases scheduled today, investors will focus on the U.S. trade deficit. 

The U.S. trade deficit widened sharply in May after imports rose faster than exports, according to the U.S. Bureau of Economic Analysis. 

Exports fell 3.2% to $317.7 billion, and imports advanced 3.3% to $395.3 billion, resulting in a trade deficit of $77.6 billion, the largest gap since March 2025.

U.S. Movers 

Vertex Pharma decreased 0.3% to $525.0, and the company agreed to acquire rare-disease-focused Crinetics Pharmaceuticals in a $10 billion deal. 

Vertex focuses on development and commercialization of medicines for serious diseases related to autoimmune and inflammatory disorders. 

Vertex agreed to acquire Crinetics for $85 a share, or $8.8 billion in cash, and the deal is expected to be completed by the third quarter of this year. 

Crinetics jumped 99% to $83.63 in early trading in New York, and the company focuses on developing medicines for hormone-related diseases, including endocrine disorders.

Chip Stocks Sell-Off Ripples from Asia to New York After Samsun Earnings

Benchmark indexes turned lower on Tuesday as investors continued to avoid high-flying AI-related stocks. 

The S&P 500 Index decreased 0.1%, and the tech-dominated Nasdaq Composite declined 0.9%, and investors rotated out of AI-related names into financials, healthcare, and industrials. 

Chips and memory stocks dived for the second session even after Samsung Electronics reported a 19-fold rise in income in the second quarter. 

Shares of Micron, Marvell Technology, SanDisk, Nvidia, and AMD decreased between 2% and 7% following the reaction to Samsung results. 

Benchmark indexes in Japan dropped 2% and in South Korea fell 5%, and the weakness in tech stocks rippled to markets in Europe. 

Market averages in Germany decreased 0.6%, but in France and the U.K., they advanced 0.3%, respectively. 

Crude oil prices advanced 0.6% to $68.50 a barrel, and the Brent crude oil price inched higher 0.8% to $72.53 a barrel following reports of Iranian attacks on commercial ships in the Strait of Hormuz. 

In the absence of any major earnings releases scheduled today, investors will focus on the U.S. trade deficit. 

U.S. Movers 

Vertex Pharma decreased 0.3% to $525.0, and the company agreed to acquire rare-disease-focused Crinetics Pharmaceuticals in a $10 billion deal. 

Vertex focuses on development and commercialization of medicines for serious diseases related to autoimmune and inflammatory disorders. 

Vertex agreed to acquire Crinetics for $85 a share, or $8.8 billion in cash, and the deal is expected to be completed by the third quarter of this year. 

Crinetics jumped 99% to $83.63 in early trading in New York, and the company focuses on developing medicines for hormone-related diseases, including endocrine disorders.

Japan's Real Wages Advanced and Household Spending Eased In May

Japan's indexes fell sharply as weakness in technology stocks weighed on the broader market for the second session in a row. 

The Nikkei 225 stock average declined 1.8%, the broader TOPIX decreased 0.7%, and the yen hovered near 162 against the U.S. dollar. 

Semiconductor equipment makers receded for the second consecutive week as investors questioned the durability of the AI infrastructure investment level. 

On the economic front, Japan's nominal wages rose and household spending declined in May, according to the latest data released by two separate ministries. 

Nominal wages per worker, including base and overtime pay, increased 3.2% to 311,165 yen, or $1,900, marking the growth above 3% for the fourth consecutive month, according to the Ministry of Health, Labor, and Welfare.

Of the nominal wages, scheduled pay increased 3.0% to 275,942 yen, and overtime pay advanced 2.9% to 20,003 yen, according to the latest report released by the ministry. 

However, real wages rose 1.4%, decelerating from the upwardly revised 2.0% in April, largely fewer working days in the month because of Golden Week holidays from late April through early May. 

Real wages rose for the fifth month in a row after falling for years through 2025; however, concerns over the higher food and fuel prices because of the conflict in the Middle East persist, complicating additional wage increases.

Households of two or more people spent an average of 320,345 yen, decreasing 0.4% after adjusting for inflation from a year ago, the Ministry of Internal Affairs and Communications said.

After a decade of unorthodox negative interest rates that ended in March 2024, the Bank of Japan is looking to normalize its monetary policy following the sustained wage growth and rising household consumption.

Japan Indexes and Stocks 

The Nikkei 225 Stock Average dropped 1.8% to 68,465.72, and the broader TOPIX declined 0.7% to 4,074.05. 

Semiconductor-related stocks dropped sharply in Tokyo's trading, as investors stayed on the sidelines. 

Kioxia Holdings decreased 11.3%, Taiyo Yuden fell 11.1%, Murata Manufacturing fell 10.2%, and Ibiden Co. dropped 7%. 

Japan's Real Wages Advanced and Household Spending Eased In May

Japan's indexes fell sharply as weakness in technology stocks weighed on the broader market for the second session in a row. 

The Nikkei 225 stock average declined 1.8%, the broader TOPIX decreased 0.7%, and the yen hovered near 162 against the U.S. dollar. 

Semiconductor equipment makers receded for the second consecutive week as investors questioned the durability of the AI infrastructure investment level. 

On the economic front, Japan's nominal wages rose and household spending declined in May, according to the latest data released by two separate ministries. 

Nominal wages per worker, including base and overtime pay, increased 3.2% to 311,165 yen, or $1,900, marking the growth above 3% for the fourth consecutive month, according to the Ministry of Health, Labor, and Welfare.

Of the nominal wages, scheduled pay increased 3.0% to 275,942 yen, and overtime pay advanced 2.9% to 20,003 yen, according to the latest report released by the ministry. 

However, real wages rose 1.4%, decelerating from the upwardly revised 2.0% in April, largely fewer working days in the month because of Golden Week holidays from late April through early May. 

Real wages rose for the fifth month in a row after falling for years through 2025; however, concerns over the higher food and fuel prices because of the conflict in the Middle East persist, complicating additional wage increases.

Households of two or more people spent an average of 320,345 yen, decreasing 0.4% after adjusting for inflation from a year ago, the Ministry of Internal Affairs and Communications said.

After a decade of unorthodox negative interest rates that ended in March 2024, the Bank of Japan is looking to normalize its monetary policy following the sustained wage growth and rising household consumption.

Japan Indexes and Stocks 

The Nikkei 225 Stock Average dropped 1.8% to 68,465.72, and the broader TOPIX declined 0.7% to 4,074.05. 

Semiconductor-related stocks dropped sharply in Tokyo's trading, as investors stayed on the sidelines. 

Kioxia Holdings decreased 11.3%, Taiyo Yuden fell 11.1%, Murata Manufacturing fell 10.2%, and Ibiden Co. dropped 7%. 

China's Indexes Dropped to Multi-Month Lows as Tech Stocks Lose Momentum

China's benchmark indexes turned lower for the second consecutive session as technology stocks continued to lose momentum. 

The Hang Seng Index fell 0.4%, and the mainland-focused CSI 300 Index dropped 0.8% amid concerns that elevated valuations of AI- and semiconductor-related stocks may not reflect business fundamentals. 

Technology stocks eased across Asia, and market indexes in Japan fell more than 1.3%, in South Korea dropped 6.6%, and in Taiwan eased 1%. 

Sentiment towards the technology sector remained weak even after Samsung Electronics reported a 19-fold surge in profit in the second quarter. 

Samsung Electronics dropped 8.8% amid growing worries that the AI boom could end abruptly, jeopardizing the company's plans to expand its memory and electronic product production capacities.

SK Hynix launched a roadshow for its proposed U.S. public listing on July 10, and the company is planning to raise as much as $29 billion. 

China Indexes and Stocks 

The Hang Seng Index decreased 0.4% to 23,518.81, and the mainland-focused CSI 300 Index declined 0.8% to 4,802.0. 

Semiconductor-linked stocks traded down for the second session in a row.

Cambricon Technologies rose 2.6%, Hygon Information Technology increased 2.7%, SMIC dropped 4.2%, and NAURA declined 1%.