Asian markets mostly advanced on Friday, following gains on Wall Street, though Japan lagged as rising inflation dampened investor sentiment. Meanwhile, TSMC’s upbeat earnings helped lift chip-sector sentiment, albeit modestly, as tariff concerns capped broader gains.
Australia’s ASX 200 led regional performance, hitting a record high after soft labor market data fueled expectations of a rate cut by the RBA.
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China’s CSI 300 rose 0.6%
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Hong Kong’s Hang Seng added 0.9%
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Japan’s Nikkei 225 fell 0.3%
Japan underperformed as core inflation jumped to 3.4%, raising expectations that the Bank of Japan may consider tightening policy. Still, analysts note that Trump’s impending tariff plans could delay such moves.
TSMC surged over 2% after posting record Q2 profits, driven by booming AI chip demand. However, CEO C.C. Wei cautioned about potential fallout from U.S. tariffs. Similar warnings from ASML added to market caution, leading to mixed performances across chip stocks.
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South Korea’s SK Hynix extended losses, dragging down the KOSPI
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Semiconductor names in Japan and China traded mostly flat