On Thursday, shares of the world-famous company Apple fell 8%. It is the biggest one day decline since mid-March. Moreover, on the next day shares of Apple suppliers in Asia declined, due to this factor. For example, shares of Sharp fell 0.65% and Murata Manufacturing in Japan dropped 1.56%.
Moreover, shares of Taiwan Semiconductor Manufacturing Company also declined 1.61%. Moreover, AAC Technologies in Hong Kong fell 2.14%. As mentioned above, technology stocks in the region followed their counterparts from the U.S.
Importantly, Chinese tech stocks listed in Hong Kong also suffered losses. Shares of tech giant Alibaba saw its stock drop 3.59% in Hong Kong. At the same time, shares of Tencent also fell 3%, and Meituan Dianping declined 0.3%. Notably, it came as the Hong Kong Tech index dropped 1.53% to 7’588.02.
Stocks in the Asia Pacific were lower on Friday, following Wall Street’s sharp decline on Thursday. Interestingly, Australia led losses among the major markets in the region. The S&P/ASX 200 fell 3.06% to end its trading day at 5’925.50.
Also, mainland Chinese stocks fell on September 4. The Shanghai Composite declined 0.87% to approximately 3’355.37. Meanwhile, the Shenzhen Component fell 0.84% to about 13’656.66.
Hong Kong’s Hang Seng index dropped 1.25% to end its trading day at 24’695.45.
South Korea’s Kospi index declined 1.15% to 2’368.25.
In Japan, the Nikkei 225 fell 1.11% to close at 23’205.43. Moreover, the Topix index dropped 0.9% to finish its trading day at 1’616.60.
Shares of Asian tech companies and the U.S. stocks
As stated above, shares of Apple suppliers fell on Friday. Let’s have a look at the U.S. stocks. On Thursday, the Dow Jones Industrial Average dropped 807.77 points or 2.8% to 28’292.73. It is the biggest one-day decline since June 11.
Also, the S&P 500 fell 3.5% to 3’455.06 and the Nasdaq Composite dropped by 5% to close at 11’458.10.
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