By Dow Jones Newswire
Jiji Press/AFP/Getty Images
Asian stock markets closed broadly lower Thursday after a tech selloff on Wall Street.
Stocks continued to lag in Japan, with the market’s weakness being led by airlines as investors are concerned about near-term tourist activity after a pair of natural disasters the past few days. A major earthquake hit the northern island of Hokkaido early Thursday, coming after Typhoon Jebi hit western Japan on Tuesday.
Agriculture and mining were the only Topix subindexes of the 33 that were higher, coming as the Nikkei /zigman2/quotes/210597971/delayed JP:NIK +0.87% fell 0.4%. Japan Airlines /zigman2/quotes/202202214/delayed JP:9201 +0.21% was off 1.3%, and ANA /zigman2/quotes/202790240/delayed JP:9202 +1.43% was off 1.1%, while cosmetics maker Kose /zigman2/quotes/207550292/delayed JP:4922 +0.41% shed 0.9% after Wednesday’s 6.7% slide. Nintendo /zigman2/quotes/208063194/delayed JP:7974 +3.14% fell 3.6%, but Sony /zigman2/quotes/201361720/delayed JP:6758 +1.79% rose almost 0.9%.
Hong Kong stocks dropped to session lows as Tencent continued to sink lower after Wednesday’s worst closing price in a year. The Hang Seng /zigman2/quotes/210598030/delayed HK:HSI +0.14% was down 1% as Tencent /zigman2/quotes/204605823/delayed HK:700 -1.41% fell 3% more, making up more than one-third of the index’s decline. Meanwhile, pan-Asia insurer AIA /zigman2/quotes/203565558/delayed HK:1299 +0.07% hit a six-month low as pressure on regional currencies lingers.
Chinese stocks lost their early modest gains. The Shanghai Composite /zigman2/quotes/210598127/delayed CN:SHCOMP +1.19% closed down 0.4%, now dropping in seven of the past eight trading days. The smaller-cap indexes in Shenzhen /zigman2/quotes/210598015/delayed CN:399106 +1.44% fell 0.7% despite its early advance. The past week’s softness has pushed the market toward last month’s multiyear lows, with worries about economic growth and U.S. trade relations remaining front of mind.
Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 +0.72% closed down over 0.1% as index heavyweight Samsung /zigman2/quotes/209800866/delayed KR:005930 0.00% fell 1%. Hyundai Motor /zigman2/quotes/206684590/delayed KR:005380 -1.02% jumped 3.8% to put the week’s gain at more than 8%.
Australia’s index /zigman2/quotes/210598100/delayed AU:XJO +0.58% posted a 1% decline — though telecom Telstra /zigman2/quotes/201936124/delayed AU:TLS +1.00% shot up after lowering its annual guidance, gaining 3.3%. New Zealand’s NZX 50 /zigman2/quotes/211587880/delayed NZ:NZ50GR -0.06% dropped 1.4%.
Taiwan’s Taiex slipped 0.6%, while benchmarks in Singapore /zigman2/quotes/210597985/delayed SG:STI +0.40% and Indonesia /zigman2/quotes/210597981/delayed ID:JAKIDX +0.39% gave up early gains to close lower.