Hang Seng Tech Index turned lower again in late trade after rallying more than 1% earlier in the afternoon; the Hang Seng Index is down 0.4%.

Taiwan Weighted Index opened 626.68 points higher, +1.38%, at 46,144.75 on Thursday, Aug. 13.

Average borrowing costs for emerging-market corporates have fallen to their lowest level relative to US corporates since January as global bond investors diversify into higher-yielding assets, driving outperformance. The split has pushed the yield premium of EM corporate debt over US corporate debt to its lowest since Jan. 26. Alan Shaw, co-head of emerging-market corporate debt at Ninety One, said three factors are behind the rally: oil companies filling supply gaps from the Middle East conflict, duration-related technicals, and fund flows into high-yield assets; he added the asset class remains underweight and that strong YTD returns and attractive risk-adjusted returns make it an interesting allocation opportunity.