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Asian stocks mostly lower after Samsung's US trial

Asian stocks mostly lower after Samsung's US trial

Asian markets drifted lower Monday in early trading as Apple's court victory in a high-stakes patent dispute sent shares of Samsung Electronics and its affiliates into a tailspin.
After more than three weeks of trial in the U.S. and two days of deliberations, the nine-person jury said Friday that Samsung copied Apple's iPhone and iPad and ordered the South Korean firm to pay more than $1 billion in damages.
Samsung said it will ask the judge in the Northern District Court of California in San Jose to overturn the jury's verdict and will appeal the decision to a higher court.
The verdict battered shares of Samsung Electronics Co. and its affiliated companies. Samsung, the world's largest maker of smartphones, memory chips, display panels and televisions, plunged 7.1 percent in Seoul.
Samsung Electro-Mechanics, which supplies electronics components to its larger affiliate, tumbled 6.8 percent.
South Korea's benchmark Kospi fell 0.3 percent to 1,914.82.
Hong Kong's Hang Seng dropped marginally to 19,866.57. Benchmarks in Singapore, Taiwan, New Zealand and mainland China also retreated.
Japan's Nikkei 224 index rose 0.3 percent to 9,101.22 and Australia's S&P/ASX 200 added 0.3 percent to 4,3361.60.
Even though the Friday verdict does not affect Samsung's Galaxy S III smartphone, analysts said Samsung's current and future products could also face attack from Apple. The U.S. decision is part of a wider global patent dispute between the world's two largest smartphone makers _ involving more than 50 cases in nine countries.
Benchmark crude for October delivery rose $1.29 to $97.45 per barrel in electronic trading on the New York Mercantile Exchange. The contract fell 12 cents to finish at $96.15 per barrel on the Nymex on Friday.
In currencies, the euro fell to $1.2502 from $1.2519 late Friday in New York. The dollar rose to 78.76 yen from 78.70 yen.


Updated : 2021-01-25 19:48 GMT+08:00