Investing.com – Asian equities were mixed in morning trade on Friday after opening most lower with Technology shares under pressure after TTaiwan Semiconductor Co Ltd (TWO:5425) (TSMC), Apple’s main chip supplier, slumped as much as 7% after it trimmed its full year revenue target.
Samsung Electronics (KS:005930) Co. fell as much as 2.2%, while SK Hynix Inc (KS:000660) slid as much as 3.8%. Meanwhile, shares of Tokyo Electron Ltd. (T:8035) and Alps Electric Co., Ltd. (T:6770), also fell.
"The big story for the APAC region today will be fallout from TSMC’s miss, which will weigh heavily on the tech sector, with first order impacts on the Semis and Samsung Electronics/ Galaxy supply chain," analysts at JPMorgan (NYSE:JPM) said in a note to clients.
"The miss appears largely to have been due to Apple (NASDAQ:AAPL) iPhones, and so may also weigh on the Apple supply chain," JPMorgan added.
Overnight, The Dow closed 0.34% lower, while the S&P 500 lost 0.57% and the Nasdaq 0.78%.
Japan’s Nikkei 225 edged up 0.3% by 9:45PM ET (01:45 GMT). The country’s core consumer price index rose 0.9% year-on-year in March, slowed from the 1.0% gain in February but matching economist’s median estimate, data on Friday showed.
Separately, Takeda Pharmaceutical Co., Ltd. (T:4502) shares fell 2% on Friday after London-listed Shire PLC (LON:SHP) rejected its $63 billion cash-and-stock acquisition offer.
Shire said it had received three offers from Takeda, but decided to reject them all as they “significantly undervalued” the company's values.
In China, China Huarong Asset Management Co Ltd (HK:2799) said its chairman Lai Xiaomin, who is under investigation for alleged corruption, had stepped down. The Shanghai Composite and Shenzhen Component fell 0.3% and 0.2% respectively in morning trade.
Reports that the U.S. Treasury Department is looking into possibilities of an emergency law to curb Chinese investments in sensitive technologies in the U.S. were cited as headwind for Chinese stocks on Friday.
Elsewhere, South Korea’s KOSPI slipped 0.2%, while Australia’s S&P/ASX 200 were little changed at 5,882.5.