ASIA MARKET OPEN | Nikkei and TAIEX Open Lower After U.S. Chip Selloff; KOSPI Opens Lower Then Turns Higher

According to Kabutan, Yonhap and HKET, Japan's Nikkei 225 opened Monday at 62,972.02, down 318.09 points from the previous session, extending its losses, while the TOPIX opened at 3,942.50, down 22.57 points. U.S. tech shares fell on Friday after disappointing earnings from Intel and Amazon, with the Nasdaq Composite down 2.86% and the Philadelphia Semiconductor Index down more than 7%. In Tokyo, Advantest, Lasertec, Fujikura, Mitsubishi UFJ Financial Group, Recruit Holdings, Sumitomo Mitsui Financial Group and SoftBank Group declined at the open, while Tokyo Electron, Panasonic Holdings and Oriental Land advanced. Seoul's KOSPI opened at 5,637.77, down 92.97 points. As of 9:15 a.m. Korea time, the index was down 51 points, or 0.89%, at 5,679.74, with Samsung Electronics down 2.89%, SK hynix down 0.63%, LG Energy Solution down 0.76% and KB Financial down 2.77%. The index later turned higher and stood at 5,817.10, up 86.36 points, or 1.51%, as of 01:36 UTC, with SK hynix up 3.03%. Hong Kong stocks opened slightly higher on the first trading day of November, with the Hang Seng Index up 7 points at 23,301 and turnover at HK$2.76 billion; the Hang Seng TECH Index rose 0.6% to 3,775. Tencent and NetEase gained 1%, while CNOOC fell 3% after reporting a 2.7% rise in third-quarter net profit to 33.3 billion yuan; HSBC Holdings and Lenovo Group lost 1%. As of 01:36 UTC, the Hang Seng Index was at 23,414.00, up 119.58 points, or 0.51%. Taiwan's TAIEX opened down 177.3 points at 45,034.53 and at one point fell 812.73 points to a low of 44,399.1. TSMC opened NT$60 lower at NT$2,310 after its ADR fell 5.95% on Friday, while MediaTek and Hon Hai later turned positive. As of 01:36 UTC, the TAIEX was at 44,829.33, down 382.50 points, or 0.85%, and MediaTek was up 2.81% at NT$4,025. In mainland China, all four major A-share indexes opened higher, with the Shanghai Composite up 0.42%, the Shenzhen Component up 0.59%, the ChiNext up 1.05% and the STAR Composite up 1.57%, as semiconductor, communications equipment, computer hardware and brokerage shares strengthened. As of 01:36 UTC, the Shanghai Composite was at 3,596.46, down 0.07%, and the Shenzhen Component was at 10,860.86, up 0.25%.