SINGAPORE: Asian markets were mixed in early trading on Thursday (Sep 18) after the United States Federal Reserve (Fed) cut interest rates for the first time this year.
Japan’s Nikkei share average rose to an intraday record high, led higher by technology shares, but gains were limited after the recent strength in the yen that weighed on exporters.
The Nikkei 225 Index rose 0.3 per cent to 44,938.40 in early trade, and briefly touched 45,055.99, surpassing the previous record set earlier in the week. The broader Topix was down 0.1 per cent.
The largest percentage gainers in the index were Resonac Holdings, which surged 8.7 per cent, followed by Screen Holdings, jumping 4.8 per cent.
Tokyo Electric Power, down 4.4 per cent, saw the largest loss in the index, followed by Tokyo Gas, which slid 4.1 per cent.
The benchmark KOSPI was up 0.38 per cent, at 3,426.37 as of 9.47am in South Korea (8.47am, Singapore time), led by gains for heavyweight chipmakers.
Samsung Electronics rose 1.21 per cent while SK Hynix gained 3.6 per cent, resuming a rally on artificial intelligence optimism.
Among other index heavyweights, battery maker LG Energy Solution slid 0.43 per cent, while Hyundai Motor and sister automaker Kia were up 0.12 per cent and 0.30 per cent, respectively.
Gains in South Korea, Japan and Taiwan steadied MSCI’s broadest index of Asia-Pacific shares outside Japan, which edged 0.1 per cent lower, as declines in Australian and New Zealand markets weighed on the wider benchmark.
Stocks in Singapore and Hong Kong briefly dipped, with the Straits Times Index and Hang Seng Index down by 0.14 per cent and 0.19 per cent respectively at around 10am.
