The Hang Seng shed 2.1% to 17,401.86, the Shanghai Composite index declined 0.1%, to 2,974.62, the Nikkei 225 shed 0.4% to 39,979.79, Kospi lost 1.6% to 2,778.31 and S&P/ASX 200 declined 1.1% to 7,949.50
Asian shares dropped Friday after a broad washout across Wall Street pulled U.S. stocks down, and Hong Kong’s benchmark declined more than 2% as investors remained cautious over China’s plans for helping its beleaguered property sector.
U.S. futures gained while oil prices dropped.
Chinese officials briefed reporters in Beijing on the outcome of a top-level meeting of the ruling Communist Party, providing some details of the sweeping blueprint it endorsed for making China a leader in technology, building its financial markets and raising living standards.
But the raft of information remained relatively vague, though more details are expected in the weeks to come. In Hong Kong, the Hang Seng shed 2.1% to 17,401.86 and the Shanghai Composite index declined 0.1%, to 2,974.62.
In Tokyo, the Nikkei 225 shed 0.4% to 39,979.79, while South Korea’s Kospi lost 1.6% to 2,778.31. Australia’s S&P/ASX 200 declined 1.1% to 7,949.50.
In Taiwan, the Taiex dropped 1.8%, as computer chip-maker Taiwan Semiconductor Manufacturing Co.’s shares dipped 2.4%, extending losses triggered by a report that Washington might double-down on restrictions on sales to China of semiconductors and equipment used to make and test them.
TSMC’s U.S.-traded shares gained 0.4% on Thursday after the industry giant reported stronger profit for the latest quarter than analysts expected. It rebounded from its loss of 8% the previous day, but only after swerving between gains and losses.
The rout in the tech sector this week has dragged markets in the U.S. and Asia down after a bout of strong gains.
On Thursday, European indexes were mixed after the ECB held its main interest rate steady.
