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ABC News – Asian Markets Retreat as Tech Stocks Weigh Down Wall Street

Article Summary:

Shares in Asia experienced a decline on Friday, influenced by losses in major technology stocks on Wall Street. This downturn affected market confidence, leading to broad sell-offs across the region.

Japan’s Nikkei 225 index dropped over 2% early in the session, closing down 1.6% at 50,064.38. Other regional indices also fell, with South Korea’s Kospi losing 2.2% and Hong Kong’s Hang Seng index down 0.9%.

In China, exports contracted by 1.1% in October, heavily impacted by a 25% drop in shipments to the U.S. However, analysts remain optimistic about a potential rebound following recent trade discussions between U.S. and Chinese leaders.

Despite the overall decline in stock markets, U.S. futures showed slight gains, and oil prices were on the rise, suggesting a mixed outlook for investors. Taiwan’s Taiex also experienced a slight dip of 0.7%, while Australia’s S&P/ASX 200 skidded by 0.8%.

Original Article:

Asian shares retreat after falling tech stocks pull Wall Street lower

BANGKOK — Shares retreated in Asia on Friday after losses for influential technology stocks pulled Wall Street benchmarks lower.

U.S. futures edged higher and oil prices advanced.

Japan’s Nikkei 225 index fell more than 2% early in the session and was trading 1.6% lower at 50,064.38.

China reported that its exports contracted 1.1% in October, as shipments to the United States dropped by 25% from a year earlier. But economists expect Chinese exports to recover after U.S. President Donald Trump and Chinese leader Xi Jinping agreed last week to de-escalate the trade war between the two largest economies.

Hong Kong’s Hang Seng index fell 0.9% to 26,247.36, while the Shanghai Composite index was nearly unchanged, at 4,007.45.

South Korea’s Kospi shed 2.2% to 3,937.22 and Taiwan’s Taiex lost 0.7%.

In Australia, the S&P/ASX 200 skidded 0.8% to 8,761.10.

Technology industries have helped drive…

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