Most Asian stock markets are moving in a negative direction on Wednesday with the technology sector at the center of the pressure after the heavy losses experienced by the Nasdaq on Wall Street yesterday.
The Japanese Nikkei 225 index recorded small gains of 0.10% at 29,332.16 points.
In Hong Kong, the Hang Seng fell 1.3%, while in mainland China the Shanghai Composite fell 1%. The Hang Seng Tech Index fell as much as 4.2% – the most since September – remaining on a downward trajectory for the third consecutive session and falling to its lowest level since May 2020.
Tencent is diving 4.1% today. The Chinese tech giant has reduced its stake in Sea Ltd. with the sale of $ 3 billion worth of shares, rekindling concerns about similar moves by other technology companies as part of a campaign to tighten Beijing’s regulatory framework.
South Korea’s Kospi lost 1.2%, while in Australia the S & P / ASX 200 fell 0.3%. Indicators in Singapore, Taiwan and Indonesia are also falling.
On Wall Street, the industrial Dow Jones closed yesterday at a new record high, despite the big losses of the technological Nasdaq. In particular, the Dow gained 0.6% to 36,799.65 points, while the broader S&P 500 closed with small losses of 0.1%. The technology Nasdaq fell 1.3% to 15,622.72 points.
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