Regional markets slide

Business | 23 Oct 2019 11:31 am

U.S. stock futures and Asian shares slipped today as revenue warnings from Texas Instruments raised worries about the global tech sector and after British lawmakers forced the government to hit the pause button on the latest Brexit deal, Reuters reports.

S&P500 mini futures ESc1 dropped by 0.3 percent while Japan's Nikkei last stood almost flat after having fallen by 0.4 percent. MSCI's broadest index of Asia-Pacific shares outside Japan fell by 0.5 percent.

Seoul stocks traded lower late morning. The benchmark Korea Composite Stock Price Index (KOSPI) fell 8.02 points, or 0.38 percent, to reach 2,080.84 as of 11:20 a.m local time. The index had a weak start. Large caps were mixed, although pharmaceutical shares were strong.

Market kingpin Samsung Electronics was flat, while No 2 chipmaker SK hynix lost 1.14 percent.

Top carmaker Hyundai Motor dipped by 0.41 percent, while auto parts maker Hyundai Mobis dropped 1.04 percent. Leading pharmaceutical firm Celltrion advanced by 4.96 percent, while Samsung BioLogics shot up by 8.14 percent.

The Taiwan Stock Exchange's main index opened down 5.07 points at 11,266.18 on turnover of NT$2.28 billion (US$74.5 million).-Reuters/The Standard


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