Asia-Pacific markets fell Friday, after U.S. tech stocks lost ground and investors’ hopes of a December rate cut by the Federal Reserve faded.
In Japan, the Nikkei 225 staggered 1,198.06 points, or 2.4%, to 48,625.88.
Tech conglomerate SoftBank plunged more than 10%. Other tech stocks on the index extended declines, with Advantest stumbling 12.1%, Tokyo Electron retreating more than 7%, Lasertec falling over 5%, and Renesas Electron down 2.65%.
Japan’s core inflation in October rose at its sharpest rate since July, in line with market estimates on Friday, supporting the case for interest rate hikes by the Bank of Japan.
In Hong Kong, the Hang Seng swooned 615.55 points, or 2.4%, to 25,220,02.
South Korea’s Kospi index pared losses. Kospi’s heavyweights Samsung Electronics tumbled 5.8%, and SK Hynix lost 8.76%.
In other markets
Markets in New Zealand were closed for holiday.
The CSI 300 in Shanghai dished off 111.34 points, or 2,4%, to 4,453,61
In Korea, the Kospi lost 151.59 points, or 3.8%, to 3,853.26.
In Singapore, the Straits Times Index backtracked 42.73 points, or 1%, to 4,469.14
In Taiwan, the Taiex stumbled 991.42 points, or 3.6%, to 26,434,94.
In Australia, the ASX 200 ditched 136.21 points, or 1.6%, to 8,416.50.
