Korean equities reverse gains on Hormuz shipping concerns
The Korean stock market initially rallied but ended with significant losses due to reports of a potential Hormuz shipping restriction and renewed Houthi activity against Saudi Arabia.
The Japanese market saw a divergence between the resilient Topix and a weaker Nikkei, indicating a rotation out of AI and chip-linked names.
SoftBank’s decline despite beating profit expectations shows investors are looking for a clearer growth signal.
Chipmakers across the region remain exposed to the AI trade unwind and any escalation in Gulf tensions