TOKYO -- Investors in Asia dumped large cap tech shares Friday to book profits ahead of the weekend and the upcoming U.S.
Federal Open Market Committee
meeting, sending most regional markets lower.
The near 3.0% drop in the
also didn't help, especially for Japan's Internet giant
, which has a lot of investments in U.S. tech companies.
index fell 142.80 points to 16,963.21, while the
index, which includes all shares listed on the
Tokyo Stock Exchange's
first section, lost 18.03, or 1.1%, to 1557.60. The
small-cap index fell 0.55 to 88.49, while the Nikkei
index lost 2.51 to 1765.71.
Uncertainty over Sunday's parliamentary elections in Japan also kept investors on hold. Despite recent polls suggesting the ruling
Liberal Democratic Party
will win by a landslide, many market participants seem to think it will actually be a close call between the LDP and the
Internet incubator Softbank fell 950 yen, or 5.2%, to 17,200 ($164.74) after
in which Softbank has a large stake, tumbled 7.8% overnight.
fell 2 million, or 4.4%, to 43 million. Meanwhile
, controlled by U.S. fund researcher
and Softbank, rose to 8.5 million, after debuting on Nasdaq Japan today with an offering price of 7 million.
fell 160, or 1.6%, to 9990,
Matsushita Electric Industrial
lost 40, or 1.5%, to 2610 and
shed 27, or 2.4%, to 1120. The three firms said they would team up to develop next-generation digital television tuners.
climbed 15, or 2.7%, to 566, while
gained 60, or 2.3%, to 2630.
After slipping below a psychological level of 105.00 and to a fresh two-month low of to 104.12 overnight, the greenback climbed slightly to fetch 104.41 yen.
index tumbled 214.28 points, or 1.3%, to 15,738.08 as caution over next week's FOMC meeting collided with low trading volume.
fell HK$0.90, or 5.4%, to 15.90 ($2.04), while
shed 1.50, or 2.3%, to 64.00.
Internet plays also did poorly, with
falling 0.40, or 6.7%, to 5.55, while
shed 0.02, or 1.6%, to 1.22.
Elsewhere in Asia, Korea's
index fell 3.30 to 778.94, while Taiwan's
index lost 86.84, or 1.0%, to 8684.93.