Asia-Pacific markets closed mostly lower Wednesday as tech stocks sold off.
In Japan, the Nikkei 225 dropped 1,237.36 points, or 1.9%, to close the mid-week session at 64,179.27.
Japan’s Softbank Group plunged 10% amid a broader decline in tech names and after efforts to secure at least $6 billion through a margin loan backed by its OpenAI stake hit a snag, according to Bloomberg News. The Japanese tech investment giant is exploring alternative funding options, though it may revisit the loan at a later date.
Japanese chip equipment makers Advantest and Renesas Electronics dropped 3.8% and 3.4%, respectively.
In Hong Kong, the Hang Seng retreated 157.94 points, or 0.6%, to 24,407.96.
In South Korea, memory chip major SK Hynix dropped over 8%, while Samsung Electronics fell 7.45%. Battery maker Samsung SDI declined more than 5%, while display panel producer LG Display slid nearly 9%.
Among Taiwanese stocks, Taiwan Semiconductor Manufacturing Co., the world’s largest contract chipmaker, fell about 2%, while Apple supplier Hon Hai Precision Industry lost more than 4%.
In other markets;
In Shanghai, the CSI 300 index parted with 53.22 points, or 1.1%, to 4,748.59.
In Taiwan, the Taiex weakened 1,478.9 points, or 3.3%, to 43,225.54
In Korea, the Kospi index tumbled 366.11 points, or 4.5%, to 7,730.82.
In Singapore, the Straits Times 50 index handed back 64.4 points, or 1.3%, to 4,958.85.
In New Zealand, the NZX 50 gained 49.57 points, or 0.4%, to 13,253.65.
In Australia, the ASX advanced 49.12 points, or 0.6%, to 8,653.29.
