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Tech Caution, New Insurance Taxes Dent Asian Stock Markets
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Tech Caution, New Insurance Taxes Dent Asian Stock Markets
Aug 6, 2026 4:25 AM

06:47 AM EDT, 08/06/2026 (MT Newswires) -- Asian stock markets tracked unevenly lower Thursday as traders again mulled tech-sector values and monitored Persian Gulf developments. Insurance stocks were pressured after China tax authorities confirmed plans to place levies on certain policies held in Hong Kong.

Hong Kong and Tokyo finished in the red, although Shanghai bucked trends to gain ground. Seoul's KOSPI index lost 4.6% in a fresh semiconductor-sector slide.

Brent crude oil futures held steady at under $80 barrel, during Asian market hours.

In Japan, the Nikkei 225 opened lower on Wall Street cues and could not recover, finishing off 0.9%.

The benchmark Nikkei 225 fell 617.18 to 65,683.26, although gaining issues outnumbered losers 168 to 45, as declines were somewhat confined to AI- and semiconductor-sector shares.

Leading the upside was industrial-automation outfit Omron, up 15% after reporting earnings, while semiconductor components-maker Taiyo Yuden declined 11%.

In Hong Kong, the Hang Seng Index opened lower and drifted south, closing down 1.5% on weakness in tech shares, and concerns regarding new mainland China taxes on certain insurance policies.

The broad gauge Hang Seng fell 385.54 to 25,530.28, as losing issues outnumbered gainers 69 to 24. The Hang Seng TECH Index lost 2.3% on the day, while the Mainland Properties Index fell 0.6%.

Leading the upside was Wharf Real Estate, gaining 13.7% after reporting earnings, while insurer AIA declined 5.9%.

Chinese mainland tax authorities have begun enforcing a flat 20% personal income tax on gains or income obtained in offshore Hong Kong insurance policies, the South China Morning Post reported.

On the mainland, the Shanghai Composite rose 0.6% to 3,900.35, as resource issues gained.

On the other regional exchanges, the Taiwan TWSE declined 0.5%; the Australian ASX 200 inclined 0.5%; the Singapore Straits Times Index rose 1%, and the Thai Set inclined 0.3%. In late trading in Mumbai, the Sensex was up 0.5%.

The MSCI All Country Asia Pacific Index fell 1.2% on the day.

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