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Chipmakers Drag Much of Asia Lower
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A selloff in Asia-Pacific markets accelerated on Friday, with chipmakers extending their decline.

In Japan, the Nikkei 225 index plummeted 2,694.42 points, or 4%, to 64,141.12.

In Hong Kong, the Hang Seng index tumbled 446.36 points, or 1.8%, to 24,562.24.

Shares of SoftBank dropped 9.2%, while chip equipment maker Tokyo Electron lost 9% and Advantest slid 9.4%, tracking steep overnight losses on Wall Street.

Japanese memory chipmaker Kioxia plunged over 14% after a federal jury in Texas on Thursday ordered the firm to pay $229 million in damages after finding it infringed a Viasat patent related to computer memory technology.

Hong Kong-listed shares of Tencent slipped 1.3%, Meituan fell 2.4% and Kuaishou lost 3.3%, while Baidu eased 0.7% and Alibaba lost 1.3%.

Taiwan’s TSMC fell 3.64% on Friday, a day after the company posted a sharp jump in profit, topping market expectations.

In other markets;

Markets in Korea were closed for holiday.

In Shanghai, the CSI index slumped 169.34 points, or 3.6%, to 4,529.10.

In Singapore, the Straits Times 50 index lost 29.95 points, or 0.5%, to 5,509.43

In Taiwan, the Taiex index cratered 2,953.71 points, or 6.5%, to 42,671.27.

In New Zealand, the NZX 50 recovered 79.9 points, or 0.6%, to 13,694.68.

In Australia, the ASX dipped 43.92 points, or 0.5%, to 8,796.75.

Disclaimer:This article represents the opinion of the author only. It does not represent the opinion of Webull, nor should it be viewed as an indication that Webull either agrees with or confirms the truthfulness or accuracy of the information. It should not be considered as investment advice from Webull or anyone else, nor should it be used as the basis of any investment decision.
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