Japanese stocks opened lower, with just the fishery/ag/forestry and marine transportation sectors up. The Nikkei
was down 0.4%, though few big caps were moving sharply. Nintendo
, however, was down 3.7% and tractor maker Kubota
eased 2.3% amid the dollar’s
pullback. Elsewhere, Toshiba
was up a further 2% to again be the best-performing large cap after Wednesday’s 6.6% jump on its stock-buyback plans.
South Korean stocks were notably lagging after Wednesday’s day off for elections, with the Kospi
down more than 1%. Construction names, which have surged since late April amid a Korean Peninsula thaw, continued the pullback seen during Tuesday’s Trump-Kim summit. Hyundai Engineering
was off 6% while construction-materials maker Busan Industrial
Hong Kong stocks were little changed, with the Hang Seng Index
off 0.4%. Financial stocks slipped after the Fed’s latest rate hike, with China Construction Bank
down 1%. The Hong Kong Monetary Authority raised its base rate a quarter-point to 2.25%, matching the overnight interest rate hike by the Fed. A day after ZTE
shares sank 42% in their second day of resumed trading, they were up 3% Thursday.