ASIA MIDDAY MOVES | KOSPI Rebounds 2.5%, Hang Seng Tech Gains 2.9% as Tokyo Electron Rises 7%

According to RTHK, HKET and FTNN, Japanese stocks recovered from early losses on Monday, with the Nikkei 225 falling as low as 62,712 in early trade. As of 04:32 UTC, the Nikkei 225 stood at 63,521.85, up 231.74 points, or 0.37%. Chip-equipment makers gained, with Tokyo Electron up 7.00% and Advantest up 4.25%, while memory chipmaker Kioxia fell 14.66%. Seoul's KOSPI rebounded after a weaker open, having opened down 92 points, or 1.62%, at 5,637. As of 04:32 UTC, the KOSPI was at 5,875.89, up 145.15 points, or 2.53%. Samsung Electronics rose 2.22% and SK hynix added 4.72%. Hong Kong stocks rose on the first trading day of November amid expectations of further market-support measures in mainland China. The Hang Seng Index ended the morning session up 142 points at 23,437, after climbing as much as 248 points to a high of 23,543; morning main-board turnover was HK$114.15 billion. The Hang Seng Tech Index gained 2.9% to 3,862. Xiaomi rose more than 6%, Tencent more than 3%, Meituan 3% and Alibaba nearly 3%, while CATL gained nearly 7% to lead blue chips. Banks weakened, with Bank of China and BOC Hong Kong down nearly 4% or more, HSBC down 2% and Standard Chartered down more than 3%. Taiwan's TAIEX fell as much as 812 points to a low of 44,399.10 in early trade before paring losses. As of 04:32 UTC, the index was at 45,122.85, down 88.98 points, or 0.20%. TSMC fell 1.27% to NT$2,340, while MediaTek rose 2.55% and Hon Hai gained 2.04%. In mainland China, A-shares advanced in the morning session. The Shanghai Composite Index rose 1.16% to 3,640.93, the Shenzhen Component Index gained 2.39% to 11,092.39 and the ChiNext Index climbed 3.28%.