Asia-Pacific markets tumbled Thursday as investors on Wall Street continued to rotate out of tech.
The Nikkei 225 dumped 510.78 points, or 1%, to 49,001.
Softbank Group Corp was among the top losers in the benchmark Nikkei 225, falling as much as 7.25%. The group pared some losses and was last trading 3% lower.
Other Japanese tech stocks also fell. Semiconductor equipment supplier Advantest, dropped as much as 5%. Counterparts Lasertec, Renesas Electronics and Tokyo Electron declined between 3% and 4%.
The Bank of Japan will kick off its two-day meeting, with the central bank expected to raise rates to 0.75% Friday, its highest level in 30 years.
In Hong Kong, the Hang Seng added 29.35 points, or 0.1%, to 25,498.13.
Shares of Australian energy giant Woodside Energy declined 1.84% after the firm announced that CEO and managing director Meg O’Neill had resigned and accepted the role of CEO at British oil and gas major BP
CHINA
The CSI 300 in Shanghai settled 27.08 points, or 0.6%, to 4,552.79.
Shares of Chinese chipmaker MetaX Integrated Circuits slid as much as 7% after soaring nearly 700% in their market debut in Shanghai on Wednesday. The company raised nearly $600 million in its initial public offering.
In other markets
In Korea, the Kospi dipped 61.9 points, or 1.5%, to 3,994.51
In Singapore, the Straits Times Index retreated 4.87 points, or 0.1%, to 4,570.61.
In Taiwan, the Taiex lost 56.64 points, or 0.2%, to 27,468.53.
In New Zealand, the NZX 50 slid 39.14 points, or 0.3%, to 13,256.77.
In Australia, the ASX 200 squeezed 3.01 points to 8,588.20.
