TOKYO -- Asian equity markets got slammed Wednesday as investors fled technology shares after semiconductor stocks plummeted in the U.S. Tuesday.
In Japan, the
closed down 314.2, or 2%, at 15,513.6 and the
index, which includes all shares listed on the
Tokyo Stock Exchange
, fell 22.8, or 1.5% to end at 1459.8.
The technology sector naturally took the brunt of the selling, as chipmaker
tanked 120 yen, or 5.3%, to 2,150 ($19.93),
fell 120 yen, or 5.2%, to 2,205 and tech bellwether
closed down 370 yen, or 3.5%, to 10,280.
Things also got ugly for telcos, with
Nippon Telegraph & Telephone
dropping 60,000 yen, or 5.1%, to 1.12 million, and wireless operator
ending off 60,000 yen, or 1.9%, to 3.16 million.
The dollar was trading down to 107.86 yen from 108.51 Tuesday.
South Korea's stock market was one of the region's hardest hit Wednesday, as the exchange was forced to stop trade temporarily on some futures contracts due to heavy losses. The
index closed off 31.2, or 5.3%, at 557.2, as investors pummeled tech shares.
index fell 168.9, or 2.7%, to 6040.6, after returning from a holiday Tuesday. Hong Kong's
index fell 427.1, or 2.8%, to 15,127.0. Index leviathan
continued a massive three-day losing streak, falling HK$2.00, or 3.6%, to 53.50 ($6.86).