Asian stocks slumped Friday, with sharp losses for technology firms and resource stocks, as investors showed caution ahead of the key U.S. jobs report out later in the day.
In Japan, the Nikkei 225 average slid 110.06 points, or 1.2%, to go into the weekend at 8,950.74
Hong Kong’s Hang Seng Index plummeted 372.42 points, or 1.8%, to 20,212.90
Technology firms sunk in Tokyo trading, with Sony Corp. handing back the previous session’s gains to trade down 4.3%, while TDK Corp. plunged 4.7%, and Toshiba Corp. shed 3.9%.
LG Electronics Ltd. dropped 2.6% in the Korean session.
In Hong Kong trading, stocks in the Internet sector added to recent losses, with Alibaba.com Ltd. declining 0.3% and Tencent Holdings Ltd. down 0.2%.
Car makers were pressured after U.S. sales of Toyota Motor Corp. and Honda Motor Co. fell in August.
In Tokyo trading, shares in Toyota declined 1.6%, and Honda fell 2%.
Japanese retailers also lost ground, with J. Front Retailing Co. Ltd. down 4.0%, and Marui Group Co. off by 4.4%.
In Hong Kong trading, Esprit Holdings Ltd. plunged 10.1% after saying it foresees a "significant" drop in its fiscal-year profit, due mainly to restructuring costs.
Shares in Galaxy Entertainment Group Ltd. also underperformed, losing 5.3%, after London-based private-equity firm Permira sold down its stake in the Macau casino operator.
Resource stocks weakened across Asia. In Hong Kong, Aluminium Corp of China Ltd. dove 4.9%, China Coal Energy Co. Ltd. was down 3.6%, and Jiangxi Copper Co. shed 3.7%.
Index heavyweight BHP Billiton Ltd. lost 2.1% and Rio Tinto Ltd. was off by 1.4% in Sydney trading.
Media firms were among the leading decliners in the Sydney session, with Seven West Media Ltd. down 2.7% and APN News and Media Ltd. off by 2.3%, while Fairfax Media Ltd. outperformed, gaining 1.5%.
Financial stocks also posted sharp losses in Sydney trading. Macquarie Group Ltd plunged 3.5%, and Australian New Zealand Banking Group Ltd. traded down 1.8%.
In other markets:
Shanghai’s CSI 300 Index shed 30.68 points, or 1.1%, to 2,803.85
Korea’s Kospi Index dropped 12.95 points, or 0.7%, to 1,867.75
Taiwan’s Taiex Index eased back 0.70 points to 7,757.06
Singapore’s Straits Times Index removed 24.09 points, or 0.8%, to 2,843.09
New Zealand’s NZX 50 Index jettisoned 29.05 points, or 0.9%, to 3,303.22
Australia’s S&P/ASX 200 Index lost 64.60 points, or 1.5%, to 4,242.90
