In Asia-Pacific markets on 31 August, share prices of Kioxia, Samsung and SK Hynix fell against the backdrop of the Federal Reserve’s hawkish stance, with the KOSPI down more than 3% and the Nikkei average approaching the ¥65,000 level.
In Asia-Pacific markets on 31 August, Japanese and South Korean equities opened sharply lower amid the Federal Reserve’s hawkish stance and a steep sell-off in US technology stocks. South Korea’s KOSPI fell more than 3%, breaking below 6,600, while major semiconductor stocks including Samsung Electronics and SK Hynix declined.
In Japan, the Nikkei Stock Average fell more than 2%, approaching the 65,000 level. Major stocks were notably lower, with Kioxia trading down 2.3% at ¥46,800 and SoftBank down 5.12% at ¥4,897.
The decline followed a sharp correction in US technology stocks last week and comments by Federal Reserve Chair Warsh suggesting that interest rates could remain high for an extended period, reducing overall risk appetite. This cooled buying interest in technology stocks during Asian trading hours.
This article was translated using AI, but the information reflects market movements at the open.