Search Share Prices
Asia report: Semiconductor slide leads markets lower
(WebFG News) - Markets in Asia were sent falling on Friday, taking their lead from a weaker session on Wall Street overnight, with the technology sector leading the declines in the region.
In Japan, the Nikkei 25 was off 0.13% at 22,162.24, as the yen weakened 0.33% against the dollar to last trade at JPY 107.72.
Financial plays and utilities were on the front foot in Tokyo, while semiconductor firms came under pressure.
Advantest was down 2.21%, and Tokyo Electron slipped 2.05%.
Takeda Pharmaceuticals was also down 4.67%, after UK drugmaker Shire rejected the company's takeover bid.
On the mainland, the Shanghai Composite fell 1.47% to 3,071.47, and the smaller, technology-heavy Shenzhen Composite sliding 2% to 1,778.34.
South Korea's Kospi was down 0.39% to 2,476.33, while the Hang Seng Index in Hong Kong fell 0.94% to 30,418.33.
Among the technology stocks in Seoul, Samsung Electronics was down 2.2%, while chipmaker SK Hynix tripped 3.98%.
A decline in semiconductor companies across the region was fuelled by an update from Taiwan Semiconductor Manufacturing, which said on Thursday that it was expecting second-quarter revenue of between $7.8bn and $7.9bn.
That would fall well short of Wall Street expectations for turnover of $8.8bn.
In the US overnight, Apple fell 2.8% as a result of its status as a Taiwan Semiconductor customer, with other American semiconductor plays also in the red.
Market watchers were also keeping an eye on Treasury bond yields, as the 10-year note remained above 2.9% and the two-year remained near its highest point in nearly 10 years.
Oil prices fell after the region entered the weekend, with Brent crude last off 1.01% at $73.01 per barrel, and West Texas Intermediate falling 0.98% to $67.67.
In Australia, the S&P/ASX 200 was 0.21% weaker at 5,868.80, with financial firm AMP falling 0.46%.
It confirmed its CEO Craig Meller would step down immediately following the firm's testimony in front of a Royal Commission of Inquiry into the country's banking sector.
AMP issued an apology for its "misconduct and failures in regular disclosures".
Across the Tasman Sea in New Zealand, the S&P/NZX 50 was down 0.6% at 8,323.22, led lower by medical technology maker Fisher & Paykel Healthcare, which was off 2.8%.
Both of the down under dollars were weaker on the greenback, with the Aussie last off 0.84% at AUD 1.3047 and the Kiwi retreating 0.88% to NZD 1.3871.