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· Shares in Asia-Pacific fell on Thursday following an overnight plunge on Wall Street that wiped out the S&P 500′s 2021 gains and left it in negative territory for the year.
Hong Kong’s Hang Seng index shed 2.3%, as of its final hour of trading. Shares of airline Cathay Pacific plummeted 8.95% after the firm said Thursday it would issue convertible bonds worth 6.74 billion Hong Kong dollars ($869.36 million).
MSCI’s broadest index of Asia-Pacific shares traded 2.06% lower.
· Japanese shares rack up biggest fall in 6 months as tech shares slide
Japanese shares suffered their biggest drop in six months on Thursday, tracking Wall Street, weighed by technology companies which have benefited from a recent rally in stocks.
The Nikkei share average fell 1.53% to 28,197.42, the biggest decline since July 31, while the broader Topix slid 1.14% to 1,838.85.
Topix’s electric appliances index has jumped 6.34% this year, while the Topix has gained 1.89%.
· Samsung Electronics Q4 operating profit rises 26% on chip, display panel sales
· China stocks post biggest drop in over 6 months on policy tightening fears
China stocks slumped on Thursday, with major indexes posting their worst drop in more than six months, hit by investor concerns that policymakers may be starting to shift to a tighter stance to rein in share prices and property markets.
The Shanghai Composite index ended down 1.91% at 3,505.18, its lowest closing since Jan. 4 and biggest intraday fall since July 24.
The blue-chip CSI300 index was down 2.73% to 5,377.14, its biggest one-day drop since July 24.
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· European markets retreat after sharp sell-off on Wall Street
The pan-European Stoxx 600 fell 0.9% at the start of trading, with basic resources shedding 2.1% to lead losses while the food and beverage sector bucked the trend to add 0.6%.
European markets are mirroring a plunge on Wall Street in the previous session amid concerns about heightened speculative trading.
Reference: CNBC, Reuters
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