According to the Nikkei Asia Review Report, tech giant Apple considered delaying its annual iPhone launch by months. This news had a serious impact on Apple and on the stocks of its suppliers. On Thursday, stocks of Apple suppliers were mixed.
For example, in Japan, Taiyo Yuden shares dropped 3.75%. Moreover, shares of Murata Manufacturing fell 4.97%.
In Taiwan, shares of Apple’s main assembler Hon Hai Precision Industry also known as Foxconn declined 0.56%. However, Hong-Kong listed shares of AAC Technologies added 5.47% as of its final hour of trading.
Apple is one of the largest smartphone makers. However, even for the Cupertino-based tech giant, the coronavirus pandemic is not a small problem.
Stocks in Asia and Singapore Airlines
It is a not secret coronavirus pandemic is a global issue. Officials around the globe imposed travel restrictions to contain the virus. The coronavirus coincided with Lunar New Year. The travel and tourism sector is trying to stay afloat even though airports are almost empty.
Moreover, nobody knows for long airplanes will stay on the ground. One good example, of how the virus affected the aviation industry comes from Singapore. On Thursday, the Straits Times Index dropped 1.34%.
According to the website of Singapore Exchange, the carrier asked for a trading halt pending an upcoming announcement by the airline.
Stocks were mixed on Thursday. In Japan, the Nikkei 225 dropped 4.51% to close at 18,664.60. Shares of Fast Retailing fell 13.16%. The Topix index fell 1.78% to end its trading day at 1,399.32.
Mainland Chinese stocks suffered losses on March 26. The Shanghai Composite fell 0.6% to about 2,764.91. Moreover, the Shenzhen composite dropped 0.799% to around 1,701.15.
Hong Kong’s Hang Seng index fell 0.72% as of its final hour of trading.
South Korea’s Kospi index dropped 1.09% to end its trading day at 1,686.24.
However, Australia’s S&P/ASX 200 gained 2.3% to close at 5,113.30.