Asian stock market sauna! Korean stocks soared higher and fell to close to 6,000 points, while the Nikkei fluctuated nearly 900 points and closed down 33 points.
Quick Look
- Affected by the weakness of U.S. chip stocks, Asian stocks opened higher and lower on Wednesday.
- South Korean stocks rose more than 2.5% in early trading and then fell back to close to 6,000 points.
- The Nikkei index fluctuated nearly 900 points and ended up down 33 points.
AI-generated summary
Why It Matters
Affected by the weak trend of chip stocks, the four major U.S. stock indexes continued to close in the black on Tuesday, while Asian stocks rebounded and fluctuated on Wednesday after falling heavily on Tuesday.
Asian stock market sauna! South Korean stocks soared higher and fell to nearly 6,000 points, while the Nikkei fluctuated nearly 900 points and closed down 33 points. (Bloomberg)
[Financial Channel/Comprehensive Report] Affected by the weak trend of chip stocks, the four major U.S. stock indexes continued to close in the black on Tuesday, and the decline was still contained. After the heavy losses on Tuesday, Asian stocks took the lead in rebounding on Wednesday. Among them, Korean stocks had the biggest gain, rising more than 2.5% in early trading. However, when sell orders were released, the index turned black, once falling below 6,000 points. The Nikkei also opened higher and lower, fluctuating 875 points, and ended up falling 33 points.
Chip stocks continued their recent decline, and the market is also analyzing the mixed quarterly results of Citigroup and other large U.S. banks. On Tuesday, the Dow Jones Industrial Average fell 180.45 points, 0.35%, the S&P 500 Index fell 0.02%, the Nasdaq Index fell 0.15%, and the Philadelphia Semiconductor Index fell 0.23% for five consecutive years.
After the heavy losses on Tuesday, Asian stocks were the first to rebound on Wednesday. Among them, Korean stocks had the biggest gains. The index opened up 26.72 points or 0.44%, opening at 6062.08 points. After Samsung Electronics and SK Hynix opened higher, rising more than 3.5%, the index also soared, reaching 6190.65 points. , rose 155.29 points or 2.57%. However, after the sharp rise, adjustment selling orders were seen again. As Samsung Electronics and SK Hynix turned negative, the index once fell below 6,000 points, backtesting 5,944.65 points. Fortunately, Samsung Electronics held firm, and the final index fell 0.44% to close at 6,008.82 points.
The Nikkei also rebounded, opening up 165 points and opening at 67,942 points. The index opened higher, rising 631 points, to 68,408 points. As the Korean stock market turned black, the Taiwan stock market's rise converged, and the Nikkei also followed suit. The index once backtested 67,533 points, fluctuating up and down 875 points, and ended up falling 33 points, closing at 67,744 points. 68,000 was lost.
Open Questions
- Can the subsequent trend of chip stocks stabilize?
- Will the short-term fluctuations in Asian stocks continue to expand?
