Asia-Pacific stocks decline following overnight drop on Wall Street; tech shares take a hit
Stocks in Asia Pacific traded lower on Thursday morning following overnight declines on Wall Street.
In Japan, the Nikkei 225 fell 1.06% in early trade while the Topix index shed 0.83%.
Losses were also seen in South Korea, where the Kospi slipped 1.48%. Over in Australia, the S&P/ASX 200 dropped 1.62%.
Overall, the MSCI Asia ex-Japan index traded 0.55% lower.
Technology stocks in Asia-Pacific took a hit in Thursday morning trade, following losses seen by their counterparts stateside.
In Japan, conglomerate Softbank Group saw its stock drop 3.78% while Kakao in South Korea fell 2.74%.
The tech heavy Nasdaq Composite has fallen 9.7% so far this month as investors rotate out of the sector. Big Tech stocks like Facebook, Amazon, Apple, Netflix, Alphabet and Microsoft are all down at least 11% in September.
Reference: CNBC
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