Session at a Glance

KOSPI crashes 5% on semiconductor rout as Alibaba AI breakthrough lifts Hong Kong tech.

South Korea’s KOSPI plunged over 5% — the session’s standout casualty — as Samsung and SK Hynix fell nearly 9% each, extending a brutal semiconductor selloff that has erased roughly $1.5 trillion from global chip stocks since late June. The memory-chip rout dragged Japan’s Nikkei lower too, with Sony sliding 5% after reports of joint US-Japan yen intervention pushed the currency sharply higher, pressuring exporters.

Hong Kong bucked the trend, lifted by Alibaba’s 7% surge after the company unveiled Qwen3.8-Max, a 2.4-trillion-parameter AI model it claims rivals Anthropic’s Fable 5. The AI catalyst also boosted SoftBank in Tokyo. Taiwan’s TAIEX gained 0.6% as MediaTek hit limit-up on chip-design momentum, while India’s Nifty added 0.8% with IT names like Infosys leading. Australia was split — defensive retail (Wesfarmers) firmed while iron-ore-exposed Fortescue dropped nearly 4% on soft Chinese demand and falling ore prices.

Here are the standout movers across Asia-Pacific’s major exchanges for the session of Monday, August 3, grouped by market.

Australia (ASX)

↑ WES +1.45%

Large-cap · 90.66 (local)

Why: No clear catalyst — Wesfarmers edged higher as investors rotated into domestic-facing defensives amid commodity weakness; retail and industrial conglomerate benefits from risk-off flows within the ASX.

Pattern: Steady grind higher looks like a low-volatility momentum continuation in a defensive name — classic rotation into quality domestics when iron ore and resources lag.

↓ FMG -3.84%

Large-cap · 17.8 (local)

Why: Fortescue dropped nearly 4% as iron ore futures fell to around $94/t on soft Chinese demand data, compounded by a 5% decline in Q4 shipments and stalled China contract negotiations.

Pattern: Continuation of a multi-week downtrend — FMG is near 52-week lows with iron ore in a structural slide; momentum remains firmly negative with no reversal signal yet.

Hong Kong (HKEX)

↑ 9988 +7.01%

Mega-cap · 125.2 (local)

Why: Alibaba surged 7% after unveiling Qwen3.8-Max, a 2.4-trillion-parameter AI model it claims matches Anthropic’s Fable 5 on key benchmarks — reigniting China AI competitiveness narrative.

Pattern: Macro catalyst-driven gap higher — fits an event-driven momentum pattern; watch for follow-through versus fade as AI model launches have historically produced short-lived pops in Chinese tech.

↓ 1810 -2.85%

Large-cap · 27.96 (local)

Why: Xiaomi fell 2.9% as investors weighed intensifying EV competition from BYD’s flash-charging ramp; Xiaomi’s EV segment posted a ¥3.1B operating loss in Q1, reversing prior-year profitability.

Pattern: Part of a broader pullback from 52-week highs — the stock has lost over 50% from its peak, and today’s move fits a continued de-rating as EV unit economics disappoint.

China — Shanghai (SSE)

↑ 600036 +1.87%

Large-cap · 40.36 (local)

Why: China Merchants Bank gained 1.9% — no specific headline, but financials outperformed as investors sought domestic defensives amid the broader tech and commodity weakness on the mainland.

Pattern: Modest mean-reversion bounce in a beaten-down banking name; Chinese bank stocks have lagged the index and today’s bid looks like sector rotation rather than a breakout.

↓ 600030 -0.56%

Mid-cap · 28.27 (local)

Why: CITIC Securities dipped 0.6% with no clear catalyst — brokerage stocks tracked the broader Shanghai Composite lower as the index shed 0.6% on risk-off sentiment.

Pattern: Inline with market beta for a mid-cap brokerage; move is noise-level and does not suggest any directional setup — watch for volume confirmation before reading into it.

China — Shenzhen (SZSE)

↑ 002415 +0.80%

Mid-cap · 37.95 (local)

Why: Hikvision edged up 0.8% with no clear catalyst — likely mild positive sentiment spillover from the Alibaba AI model launch, given Hikvision’s AI-powered surveillance product line.

Pattern: Small move within recent range — insufficient magnitude to signal a breakout; fits a consolidation pattern in a name that has been rangebound amid US entity-list overhang.

↓ 000333 -1.94%

Large-cap · 85.9 (local)

Why: Midea Group dropped 1.9% with no specific headline — likely pressure from weak consumer sentiment data on the mainland and broad risk-off in large-cap industrials.

Pattern: Follows the broader Shenzhen weakness; move is within normal daily range for a large-cap appliance manufacturer — no technical breakdown, but momentum is fading from the year’s earlier gains.

Japan (TSE)

↑ 9984 +2.53%

Mega-cap · 5393 (local)

Why: SoftBank gained 2.5% bucking the Nikkei selloff, boosted by reports it will invest $300M+ into German robotics startup Agile Robots — deepening its physical-AI and humanoid portfolio.

Pattern: Catalyst-driven relative strength against a weak tape — SoftBank’s AI/robotics thesis is acting as a hedge against the yen-strengthening headwind hitting other Japanese exporters.

↓ 6758 -5.23%

Mega-cap · 3589 (local)

Why: Sony slid 5.2% after reports of joint US-Japan yen intervention pushed the currency sharply higher; Sony’s heavy overseas revenue exposure makes it a direct casualty of yen appreciation.

Pattern: Classic exporter sell-off on FX shock — fits a macro-catalyst breakdown pattern; watch JPY levels closely, as further yen strength could extend the drawdown in export-heavy mega-caps.

Singapore (SGX)

↑ D05 +0.22%

Mega-cap · 74.18 (local)

Why: DBS edged up 0.2% — no clear catalyst; Singapore’s largest bank held steady as a regional safe-haven amid the broader Asia-Pacific tech selloff.

Pattern: Flat move in a defensive mega-cap bank; DBS has shown low beta to the semiconductor rout — classic flight-to-quality positioning in a risk-off session.

↓ H78 -3.45%

Mid-cap · 7.84 (local)

Why: Hongkong Land dropped 3.5% with no clear catalyst — likely pressure from broader real-estate weakness in the region and risk-off flows out of property-exposed mid-caps.

Pattern: Continued weakness in Asian property names; move fits a sector-wide de-rating trend rather than an idiosyncratic breakdown — low liquidity can amplify daily swings in SGX mid-caps.

South Korea (KOSPI)

↑ 005380 +1.29%

Large-cap · 3.93e+05 (local)

Why: Hyundai Motor rose 1.3% — rare green on a blood-red KOSPI day, likely benefiting from rotation out of semiconductor exposure and into traditional industrials with global revenue diversification.

Pattern: Relative strength in a collapsing market is notable — defensive auto names can outperform during tech-led selloffs; however, yen intervention risk could pressure Korean auto competitiveness too.

↓ 000660 -8.79%

Large-cap · 1.567e+06 (local)

Why: SK Hynix plunged 8.8% as the global memory-chip selloff deepened — semiconductor stocks have lost ~$1.5T since late June amid fears hyperscaler AI spend may slow and memory enters a bear market.

Pattern: Momentum breakdown accelerating — SK Hynix is down over 26% from its peak; today’s move fits a capitulation-phase selloff with heavy volume; Morgan Stanley’s upgrade signals contrarian interest building.

Taiwan (TWSE)

↑ 2454 +9.99%

Large-cap · 3910 (local)

Why: MediaTek hit limit-up at +10% — the chip designer is benefiting from strong demand for its mobile and edge-AI processors; momentum carried from a 10% gain in the prior session as well.

Pattern: Back-to-back limit-up moves are a rare momentum signal in Taiwanese semis — suggests institutional re-rating; this is a breakout pattern, but consecutive limit-ups often see profit-taking within days.

↓ 2308 -3.66%

Mid-cap · 1580 (local)

Why: Delta Electronics fell 3.7% — no specific headline, but power/thermal management stocks have been volatile as markets reassess the pace of data-center infrastructure buildout.

Pattern: Pullback within a broader uptrend fits a normal retracement after the TAIEX’s recent rally; check whether the 50-day moving average holds as support for a continuation setup.

India (NSE)

↑ INFY +3.31%

Mega-cap · 1168 (local)

Why: Infosys rallied 3.3% as India’s IT sector outperformed broadly — a weaker US dollar and expectations of resilient outsourcing demand supported large-cap Indian tech names.

Pattern: Sector rotation into Indian IT defensives during a global tech rout — Infosys and peers often act as havens when hardware/semis sell off, given their services-driven revenue model.

New Zealand (NZX)

↑ AIR +3.61%

Large-cap · 0.43 (local)

Why: Air New Zealand gained 3.6% — no specific headline, but airline stocks have been supported by lower oil prices as crude sank on Iran deal optimism reported in the region.

Pattern: Oil-price tailwind for airlines is a well-known macro trade; the move fits a sector-wide bid rather than an idiosyncratic catalyst — watch crude levels for follow-through.

↓ MEL -1.05%

Mid-cap · 5.64 (local)

Why: Meridian Energy dipped 1.1% — no clear catalyst; utility stocks saw mild profit-taking as risk appetite improved in the broader NZX session, reducing defensive demand.

Pattern: Small pullback in a defensive utility name — likely noise-level; Meridian tends to trade inversely to risk sentiment, so the dip is consistent with the NZX’s mild rotation toward cyclicals.

Reading the Session

The exchange-by-exchange breakdown above surfaces both market-specific catalysts and cross-border themes. When multiple exchanges move together, look for a macro driver (USD move, commodity price, risk-on/off shift). Isolated single-exchange moves tend to reflect local earnings, regulatory news, or sector rotation.

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