HONG KONG (AP) — Asian stocks tumbled Friday, with Japan’s Nikkei slumping 2.4% on heavy selling of semiconductor-related shares and other market heavyweights.
Tensions in the Middle East were weighing on sentiment across the region, and U.S. futures were sharply lower.
Oil prices jumped as the state-run IRNA news agency reported that Iran fired air defense batteries early Friday morning after reports of explosions near the city of Isfahan.
Japan’s benchmark Nikkei 225 lost 2.4% to 37,156.54, paring losses in the early trading when it plunged 3.5%.
Semiconductor equipment supplier Lasertec was the largest loser, which lost 8.4%. But most other big tech-related shares also dropped. Renesas gave up 6%, Tokyo Electron lost 8.7% and Sony Group Corp. declined 1.8%.
Toyota Motor Corp was down 2.2%.
Japan’s headline inflation rate slowed to 2.7% in March, the government reported, while the core-core index, excluding fresh food and energy costs, moderated to 2.9%, marking the first time since November 2022 that it fell below 3%.
Teenager is charged with terrorism offenses in stabbings of bishop and priest at Sydney church
China, South Australia to deepen cooperation
Maldives to allow settling import payments using Chinese currency
Even with John Schneider still in charge a new era arrives for Seahawks entering 2024 NFL draft
Commentary: Innovative greening manifests China's environmental preservation drive
Economic Watch: Innovation leads China's flashlight production to broader prospects
Commentary: Washington should not treat Pacific Islands as its own backyard
Closing prices for crude oil, gold and other commodities
Gunmen ambush vehicle carrying customs officials in northwest Pakistan, killing 4 officers
Xi Congratulates Pellegrini on Election as President of Slovakia