TOKYO -- Most Asian equity markets closed lower Thursday, as technology shares in Taiwan experienced a particularly nasty drop.
Amid political uncertainty at home and lacking support from Wall Street, Taipei's
index plummeted 351.0, or 6.5%, to 5081.3. Many stocks dropped the market's daily maximum of 7%.
In Tokyo, the
erased early gains to drop 61.4, or 0.4%, to close at 14,811.1 and the
index, which includes all shares listed on the
Tokyo Stock Exchange
, fell 1.8, or 0.1% to finish the day at 1405.4.
Telcos were some of the day's biggest losers, as
Nippon Telegraph & Telephone
fell 60,000 yen, or 5.7%, to 990,000 ($9,175) and wireless operator
( NTDMY) fell 110,000 yen, or 3.5%, to 3.01 million.
Japanese tech shares enjoyed a bit of a technical rebound Thursday after experiencing heavy losses on Wednesday.
rose 80 yen, or 3.8%, to 2,180 and
closed up 160 yen, or 1.7%, at 9,770.
The dollar traded at 107.90 yen, down from 108.05 yen Wednesday.
Elsewhere, Hong Kong's
index fell 36.0, or 0.3%, to 14,422.5, as banking heavyweight
fell HK$2.00, or 1.9%, to 105.00 ($13.47) and
rose HK$0.70, or 1.4%, to 49.70.
index bucked the downtrend and edged 0.9 higher, or 0.2%, to 515.0.