Sat. Nov 28th, 2020

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Tech shares decline

1 min read
Asian tech and their Us Counter parts

Technology stocks in Asia took a hit in Thursday morning trade, following losses seen by their counterparts stateside.

In Japan, conglomerate Softbank Group saw its stock drop 2.93%. Kakao in South Korea also fell 3.56%. In Hong Kong, shares of Chinese smartphone maker Xiaomi slipped 3.84% while Tencent declined 1.26%, with the Hang Seng Tech index falling 2.59%. Meanwhile, Taiwan Semiconductor Manufacturing Company shares in Taiwan shed 2.19%.

The tech heavy Nasdaq Composite has fallen 9.7% so far this month as investors rotate out of the sector. Big Tech stocks like Facebook, Amazon, Apple, Netflix, Alphabet and Microsoft are all down at least 11% in September.

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