Asian Markets Mixed

Asia-Pacific markets were mixed on Thursday following a prior session sell-off, with Japan’s Nikkei 225 and South Korea’s Kospi among the major decliners. The Nikkei dropped 0.73%, while the Topix edged up slightly after Japan’s July wage data showed a 3.6% year-on-year increase in average monthly earnings, softer than June’s 4.5% rise. Real wages grew 0.4%, marking a second consecutive monthly gain. The robust wage data offers the Bank of Japan room for potential rate hikes, which could pressure equities. BOJ board member Hajime Takata indicated that rate increases would depend on sustained corporate spending and wage growth.

Elsewhere, Hong Kong’s Hang Seng index slipped 0.33%, while the CSI 300 in mainland China was marginally higher. Chinese property stocks, including China Vanke and Logan Group, rose on optimism about a potential phased interest rate reduction to support the property sector. In South Korea, the Kospi saw a slight decline, with the Kosdaq down 1%. SK Hynix shares gained 3.36% as the chipmaker plans mass production of HBM3E chips by September.