Impact of souring tech sentiment uneven for Asia equities
We’ll send you a myFT Daily Digest email rounding up the latest Asia-Pacific equities news every morning.
Asia-Pacific equities benchmarks were mixed on Friday as a sharp drop by the tech-heavy Nasdaq Composite on Wall Street overnight had an uneven impact on tech stocks in the region.
A 19 per cent fall by Facebook helped drag the Nasdaq 1.4 per cent lower while the broader S&P 500 index closed out Thursday’s session down 0.3 per cent.
But Tokyo’s Topix index was up 0.2 per cent as gains of 0.5 per cent by industrials more than offset minor losses for tech stocks, which edged down 0.1 per cent. Seoul’s Kospi index meanwhile was basically flat.
In Sydney the tech segment of the S&P/ASX 200 rose 1.8 per cent as the broader index climbed 0.8 per cent, bolstered by 1 per cent rise by mining stocks. BHP Billiton climbed as much as 2.8 per cent to a 10-week high after the Anglo-Australian miner agreed a deal to sell its shale assets in the Southern US to BP for $10.5bn.
Hong Kong’s benchmark Hang Seng index was down 0.6 per cent, however, as the tech sector dropped 1.2 per cent and financials fell 0.7 per cent. The CSI 300 index of Shanghai and Shenzhen-listed stocks was also off 0.6 per cent.
Get alerts on Asia-Pacific equities when a new story is published