Asian stocks ended mostly lower on Friday as Apple warned of rising memory chip prices and China’s state-owned Securities Times warned against speculative trading.
Tariff worries returned to the fore after U.S. President Donald Trump threatened Canada with a 50 percent tariff on all aircraft sold in the United States and also signed an executive order that would impose a tariff on any goods from countries that sell or provide oil to Cuba, a step that raises fresh pressure on Mexico.
The dollar traded higher, clawing back some of its slide on the week, as U.S. lawmakers reached an agreement to avoid a partial government shutdown and President Trump said he has chosen a very good person to be the new Federal Reserve chairman, with a formal announcement expected later in the day.
Gold extended losses to dip below $5,200 an ounce in Asian trade as traders booked profits after a record rally. Oil prices fell nearly 2 percent after the U.S. eased some sanctions on the oil industry in Venezuela.
China’s Shanghai Composite index fell 0.96 percent to 4,117.95 as a sudden drop in gold prices combined with regulatory action to limit speculative losses sparked heavy selling in miners and other materials stocks.
Hong Kong’s Hang Seng index tumbled 2.08 percent to 27,387.11, ending a seven-day rally amid steep losses in non-ferrous metals and mining stocks.
Japan’s Nikkei finished marginally lower at 53,322.85, snapping a three-day advance as technology stocks lost ground amid renewed concerns over the sustainability of massive investments in artificial intelligence. Lasertec, Keyence and Advantest fell 3-5 percent.
Investors also looked ahead to the lower house snap election scheduled for Feb. 8. The broader Topix index settled 0.59 percent higher at 3,566.32.
Data released earlier in the day revealed that Tokyo’s consumer inflation cooled again in January, easing pressure on the Bank of Japan to hike rates again soon.
Other reports on industrial output, retail sales and unemployment portrayed a mixed picture of the economy.
Seoul stocks ended little changed, with the Kospi average closing marginally higher at 5,224.36, extending its winning streak to a fourth session and hitting a new record high.
Investors shrugged off data that showed South Korea’s industrial output grew at the slowest pace in five years in 2025.
Australian markets fell notably as material stocks succumbed to profit taking after recent strong gains. The benchmark S&P/ASX 200 dropped 0.65 percent to 8,869.10, extending losses for a third straight session. The broader All Ordinaries index ended down 0.78 percent at 9,164.80.
Across the Tasman, New Zealand’s benchmark S&P/NZX-50 index rose 0.56 percent to 13,423.18, recouping losses from the previous two sessions.
U.S. stocks ended mostly lower overnight after Microsoft reported slower growth in its cloud business.
The Dow recovered from an early sell-off to close 0.1 percent higher while the S&P 500 slid 0.1 percent and the tech-heavy Nasdaq Composite shed 0.7 percent.
Business News
Asian Shares Mostly Lower In Cautious Trade
2026-01-30 08:46:36
