Seoul skyline at sunset.
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Asia-Pacific markets opened lower on Wednesday, tracking losses on Wall Street after U.S. Treasury yields rose and major U.S. technology stocks fell.
Japan’s Nikkei 225 opened down 0.57%, and the Topix fell 0.45%. Korean Cospi The Kosdaq rose 0.28% but was unchanged.
Shares of South Korean tech giant Samsung Electronics rose more than 1% in choppy trading, shaking off Fourth-quarter profit forecast falls short of expectations.
The world’s largest memory chip maker said operating profit for the quarter ended Dec. 31 would be about 6.5 trillion won ($4.47 billion), below LSEG’s forecast of 7.7 trillion won.
Australian S&P/ASX 200 Index The price is trading just below flatline.
Hong Kong’s Hang Seng Index futures were last at 19,447 points and are expected to open flat. The Hang Seng Index finally closed at 19,447.58 points.
Asian traders will continue to monitor developments related to Chinese technology company Tencent Holdings, Its shares fell nearly 8% On Tuesday, the company was added to the U.S. Department of Defense’s list of “Chinese military companies.”
Separately, Samsung is scheduled to release profit guidance for the fourth quarter of 2024 later in the day.
Drops in major U.S. technology stocks overnight dragged the market lower.
this S&P 500 Index It fell 1.11% to close at 5,909.03 points. this Dow Jones Industrial Average It fell 178.20 points, or 0.42%, to close at 42,528.36 points. this Nasdaq Index It fell 1.89% to 19,489.68. Earlier in the day, the major averages were trading higher before reversing course. NVIDIA Shares fell 6.2% after hitting a record high.
Tesla Bank of America fell 4% after Downgrade Given the electric car maker’s high valuation and the risks associated with its strategy. meta platform reduced by nearly 2%, while apple and Microsoft Both fell more than 1%.
—CNBC’s Pia Singh and Lisa Kailai Han contributed to this report.
