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Asian stocks traded mixed on Friday as renewed weakness in semiconductor shares weighed on South Korean and Japanese markets, while investors awaited the closely watched U.S. July nonfarm payrolls report for fresh clues on Federal Reserve policy.
Wall Street ended mixed overnight after U.S. economic data pointed to continued labour-market resilience. Initial jobless claims remained below 200,000 for a third consecutive week, while second-quarter productivity growth exceeded forecasts. The figures added uncertainty over whether the Federal Reserve will adjust interest rates at its September meeting. In early Asian trading, Nasdaq 100 futures gained around 0.1%, while S&P 500 futures were nearly flat.
South Korea’s KOSPI dropped roughly 1.2%, extending its weekly decline beyond 6% and putting the index on course for a seventh straight weekly loss. Semiconductor stocks remained under pressure as investors reassessed elevated artificial intelligence valuations. SK Hynix fell more than 4%, while Samsung Electronics recovered nearly 1% following steep losses earlier in the week.
Japanese stocks also weakened, with the Nikkei 225 falling about 1%, although it remained on track for a weekly gain. Kioxia Holdings declined more than 5% and Murata Manufacturing lost over 4%. Fujifilm Holdings plunged nearly 18% after announcing that it was considering a partial spinoff of its imaging business.
Chinese stocks outperformed the broader Asian market. The CSI 300 rose around 1%, while the Shanghai Composite gained approximately 0.4%. Hong Kong’s Hang Seng slipped about 0.2%, with Alibaba and Tencent edging lower. Hong Kong-listed insurers also remained under pressure amid reports of tighter enforcement of taxes on investment income from offshore insurance policies.
Singapore’s Straits Times Index gained around 0.4%, supported by strong bank earnings. DBS Group and OCBC posted solid weekly gains, while UOB declined after reporting its latest results. Australian shares edged lower, while Nifty 50 futures advanced.
Oil prices also climbed as geopolitical tensions surrounding the Strait of Hormuz and fresh Houthi threats against Saudi Arabia raised concerns about potential disruptions to Middle East energy supplies.
