Markets in Asia-Pacific marked a second day of declines after Wall Street sold off on stronger-than-expected U.S. jobs data, leaving room for more rate hikes ahead by the Federal Reserve.
In Japan, the Nikkei 225 fell another 384.6 points, or 1.2%, to 32,388.42, as Samsung Electronics estimated a 96% likely plunge in its second quarter operating profit.
Tokyo-listed shares of Eisai fell sharply in Friday’s morning as investors assessed the U.S. Food and Drug Administration’s approval of a drug for Alzheimer’s treatment, Leqembi.
The drug is produced by Japanese pharmaceutical company Eisai and its U.S. partner Biogen.
Leqembi is the first Alzheimer’s antibody treatment to receive full FDA approval. It is also the first such drug that to receive broad coverage through Medicare.
Japan’s nominal average wages climbed 2.5% year-on-year in the month of May, higher than the revised 0.8% rise seen in the previous month and marking the third consecutive month of acceleration in hikes.
Government data showed Japan’s total average monthly earnings across all industries rose while all household spending fell 4% year-on-year, marking the third straight month of contraction.
A Reuters poll of economists expected to see a smaller decline in household spending of 2.4%.
In Hong Kong, the Hang Seng dropped 167.35 points, or 0.9%, to 18,365.70.
In other markets
The CSI 300 dipped 17.05 points, or 0.4%, to 3,825.70.
In Singapore, the Straits Times Index lost 17.05 points, or 0.4%, to 3,139.47.
In Korea, the Kospi Index backed off 29.58 points, or 1.2%, to 2,526.71.
In Taiwan, the Taiex index doffed 97.96 points, or 0.6%, to 16,664.21.
In New Zealand, the NZX 50 recovered 20.78 points, or 0.2%, to 11,908.12.
In Australia, ASX 200 removed 121.17 points, or 1.7%, to 7,042.27.
