By Associated Press and Marketwatch
Asian stocks mostly fell Thursday, with investors expressing disappointment after President Donald Trump’s summit with North Korean leader Kim Jong Un ended abruptly with no deal, while China data also pressured those markets.
Japan’s Nikkei /zigman2/quotes/210597971/delayed JP:NIK +0.74% closed down 0.8%, while Hong Kong’s Hang Seng /zigman2/quotes/210598030/delayed HK:HSI +1.66% fell 0.4%. In mainland China, the Shanghai Composite /zigman2/quotes/210598127/delayed CN:SHCOMP +0.40% closed 0.4% lower after disappointing factory-activity data, while the smaller-cap Shenzhen Composite /zigman2/quotes/210598015/delayed CN:399106 +0.22% rose about 0.3%.
South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 +1.43% fell close to 1.8%, weighed by falling tech stocks. Losses intensified after news that a U.S.-North Korea summit aimed at reducing the latter’s nuclear weapons program, ended without a disarmament deal due to a disagreement over sanctions. At a press conference, Trump said his counterpart wanted all sanctions lifted, but “we couldn’t do that.”
Meanwhile in China, data showed factory activity fell to the lowest level in three years, to 49.2 in February from 49.5 in January. The index has been in contraction territory — a reading below 50 — for three months in a row.
Among individual stocks, robotics maker Fanuc /zigman2/quotes/202054799/delayed JP:6954 +1.66% fell in Tokyo trading, while oil producer Inpex /zigman2/quotes/206689846/delayed JP:1605 +1.35% gained. AIA Group /zigman2/quotes/203565558/delayed HK:1299 +0.85% and HSBC /zigman2/quotes/202687335/delayed HK:5 +4.25% rose in Hong Kong, while Apple /zigman2/quotes/202934861/composite AAPL +2.35% supplier AAC /zigman2/quotes/201441510/delayed HK:2018 +3.95% continued its losing streak. Samsung /zigman2/quotes/209800866/delayed KR:005930 +1.65% and SK Hynix /zigman2/quotes/206420319/delayed KR:000660 +3.08% slumped in Korea, following a decline in U.S. semiconductor stocks. Mining giant Rio Tinto /zigman2/quotes/200083756/delayed AU:RIO +0.20% and Beach Energy /zigman2/quotes/200513631/delayed AU:BPT +1.79% gained in Australia.