Stock markets in the Asia-Pacific region are falling during trading on Monday.
Exchanges in Japan are closed due to the celebrations on the occasion of Health and Sports Day.
Chinese stock indexes show the most severe decline after the US stepped up measures to control the export of semiconductor products to China.
The Hong Kong Hang Seng fell 2.5% by 8:15 qoq, the Shanghai Shanghai Composite – 0.4%.
The stock prices of microelectronics manufacturers Semiconductor Manufacturing International Corp. are falling most significantly on Chinese stock exchanges. (-2.7%), Advanced Micro-Fabrication Equipment Inc. (-17.6%) and GigaDevice Semiconductor Inc. (-7%).
US authorities on Friday imposed new restrictions on the supply of advanced chips and equipment for the production of semiconductors to China to prevent the development of the Chinese military industry through these products.
Among the drop leaders on the Hong Kong Stock Exchange are also shares of casino operator Sands China Ltd. (-7.6%), China Merchants Bank Co. Ltd. (-6%) and IT company Meituan (-5.9%).
Purchasing Managers’ Index (PMI) for China Services, calculated by Caixin Media Co. and S&P Global, fell to 49.3 points in September from 55 points in August due to the negative impact on the sector of coronavirus restrictions.
An index value below 50 points indicates a drop in business activity in the service sector. The indicator fell below this mark for the first time in four months.
The South Korean Kospi index decreased by 0.2% by 8:25 a.m.
The value of shares of automaker Hyundai Motor fell by 1.4%.
Quotes of securities of one of the world’s largest manufacturers of chips and electronics Samsung Electronics Co. are down 0.2%, while shares of its rival LG Electronics are up 1.4%.
The Australian S&P/ASX 200 fell 1.2%, following shares of mining companies.
The price of Silver Lake Resources Ltd. fell 7%, Chalice Mining Ltd. – by 6.8% and Evolution Mining Ltd. – by 6.7%.
