Asia Slips with Tech Declines

Negativity on Wall Street flowed through to Asian markets on Friday, with regional stock indexes ending the day moderately lower amid declines in the technology sector.

The Nikkei 225 Index ditched 28.94 points, or 0.1%, to close the week at 22,162.24, as semiconductor companies declined while financials and utilities mostly rose.

In Japan, Tokyo Electron declined 2.1%, and Advantest dropped 2.2%

Also of note, shares of Takeda Pharmaceutical dropped 4.7% after news on Thursday that U.K. drugmaker Shire had declined the Japanese company's acquisition offer.

In Hong Kong, the Hang Seng index plummeted 290.11 points, or 0.9%, to 30,418.33

Elsewhere, China Huarong Asset Management tumbled 10.7%, after the company said its chairman, currently being investigated by the state, had stepped down from its board

Semiconductor companies in the region traded lower after Taiwan Semiconductor Manufacturing (TSMC), the largest contract chipmaker in the world, said Thursday it was forecasting second-quarter revenue to come in between $7.8 billion and $7.9 billion U.S., below a Wall Street estimate of $8.8 billion.

Morgan Stanley attributed TSMC's weak guidance to order reductions from Apple iPhone processors. On Friday, TSMC shares tumbled 6.3%, dragging Taiwan's Taiex lower by 1.8%

Meanwhile, South Korea's Samsung Electronic slid 2.2% and chipmaker SK Hynix tumbled 4%

Among individual movers, shares of Australia's AMP closed down 0.5% It said CEO Craig Meller would step down immediately following the company's testimony at an Australian inquiry. AMP apologized for "misconduct and failures in regulator disclosures."

In other markets

In China, the CSI 300 lost 50.99 points, or 1.3%, to 3,760.85

In Korea, the Kospi settled 9.77 points, or 0.4%, to 2,476.33

In Singapore, the Straits Times Index slid 25.35 points, or 0.7%, to 3,573.38

In Taiwan, the Taiex Index descended 191.84 points, or 1.8%, to 10,779.38

In New Zealand, the NZD 50 Index dropped 49.8 points, or 0.6%, to 8,323.22

In Australia, the ASX 200 Index subtracted 12.22 points, or 0.2%, to 5,868.78