Asian stocks are suppressed by US tech slide

Asian stocks are suppressed by US tech slide

On Monday, Asian stocks went down, with electronics heavyweights, including Samsung Electronics suppressed by a dip in American tech stocks as well as caution ahead of this week's Fed policy meeting.

Spreadbetters expected EU stocks to follow suit, predicting lower openings for the UK’s FTSE, Germany's DAX as well as France's CAC.

MSCI's broadest index of Asia-Pacific stocks outside Japan decreased 0.8%, with the tech index losing 1.5%.

On Friday, technology stocks sold off abruptly on Wall Street, reacting to worries as for Apple's fresh iPhones as well as a cautious Goldman Sachs report regarding the stocks, which underpinned heavy profit taking after an extended soar.

As for Asia's tech giants, they followed suit on Monday. South Korea's Samsung Electronics dipped 1.8%, Taiwan Semiconductor Manufacturing Co decreased 1.6%, Japan's Sharp Corp shed 2.7%.

Japan's Nikkei dived 0.6%, South Korea's KOSPI declined 1.2%, while Hong Kong's Hang Seng headed south 1.3%, Shanghai dropped 0.5%.


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