Asian stock markets closed the morning session mostly lower today, as investors continued to offload technology stocks following a sharp sell-off on Wall Street that dragged the Nasdaq lower. Japan's Nikkei ended the morning at 65,266.67, down 1,033.77 points or 1.56%. Hong Kong's Hang Seng Index finished at 25,463.51, down 452.31 points or 1.75%. China's Shanghai Composite edged up just 0.49 points or 0.01% to 3,878.92. South Korea's KOSPI tumbled 4.6%, while Australia's S&P/ASX 200 added 0.43%. Tech stocks fell this morning, including SK hynix and Samsung Electronics, both of which slumped in South Korean trading. Meanwhile, insurance stocks in Hong Kong declined, with AIA Group dropping 8.9%, HSBC Holdings falling 2.8%, and Standard Chartered sliding 3.9%, following reports that some Chinese cities have targeted foreign insurance policies for tax collection in the latest effort to boost tax revenue. Investors are also watching corporate earnings and US labor market data this week. Weekly jobless claims are due today, and the July nonfarm payrolls report will be released tomorrow. Analysts expect an increase of 88,000 jobs, following a gain of 57,000 in June, with the unemployment rate expected to hold steady at 4.2%.
SK Hynix Inc
Samsung Electronics Co Ltd
