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.
The Nikkei 225 dropped 437.79 points, or 1.5%, to 28,197.42.
Japan’s retail sales declined 0.3% year-on-year in December, according to data released by the country’s Ministry of Economy, Trade and Industry. That compared against a median market forecast for a 0.4% decline.
Shares of Apple suppliers in Asia were mixed in Thursday trade. In Japan, Murata Manufacturing dropped 4% while LG Display in South Korea rose 0.4%.
The Japanese yen traded at 104.30 per U.S. dollar after weakening from levels below 103.8 against the greenback yesterday.
The Hang Seng index in Hong Kong tumbled 746.76 points, or 2.6%, to 28,550.77. Shares of airline Cathay Pacific plummeted 9.71% after the firm said Thursday it would issue convertible bonds worth 6.74 billion Hong Kong dollars ($869.36 million U.S.).
Hong Kong-listed shares of tech behemoth Alibaba fell 3.2%. Wall Street Journal reported, citing sources, that Alibaba affiliate Ant Group is planning to turn itself into a financial holding company overseen by China’s central bank.
In Taiwan, shares of contract manufacturer Hon Hai Precision Industry — better known as Foxconn — declined 3.7% while Taiwan Semiconductor Manufacturing Company slid 2.3%.
The Australian dollar changed hands at $0.7602 following yesterday’s slip from levels above $0.772.
In other markets
In Shanghai, the CSI 300 dumped 150.86 points, or 2.7%, to 5,377.14.
In Korea, the Kospi index lost 53.51 points, or 1.7%, to 3,069.05
In Singapore, the Straits Times dumped 38.33 points, or 1.3%, to 2,920.30
In Taiwan, the Taiex Index cratered 285.57 points, or 1.8%, to 15,415.88
In New Zealand, the NZX 50 subtracted 287.54 points, or 2.2%, to 13,086.46.
In Australia, the ASX 200 slumped 130.87 points, or 1.9%, to 6,649.69.