Asia markets mixed as Chinese stocks lose steam—that’s the headline spreading across business feeds today, as investor sentiment shifts on the back of mixed signals from Wall Street and shifting economic data.

Market Highlights from Thursday

• China’s markets pulled back sharply, with the Shanghai Composite falling 1.3%, dragged lower by a more than 14% tumble in Cambricon shares. Hong Kong’s Hang Seng also dipped 1.2% by the close.
• Meanwhile, major markets such as Tokyo, Seoul, Sydney, and Taipei defied the dip—they lifted off following Wall Street’s rebound, continuing momentum from the previous day.
• In Japan, auto-tech giant Nidec saw a steep 22% plunge after launching an internal probe into alleged accounting irregularities at its Chinese unit.

This mixed outcome follows gains in European and U.S. markets, where Google parent Alphabet rallied on news of a favorable court decision. Timber stocks in London were flat, while Frankfurt edged higher. Gold reached a seasonal high, and Japanese bond yields soared to record levels—an indication of investor caution balanced with yield-seeking dynamics.

On the U.S. front, softer job openings data buoyed optimism for an upcoming Fed rate cut, a move further reinforced by dovish commentary from Fed officials.