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Asia Notes Broad Selloff

Asia Notes Broad Selloff

Asia-Pacific markets saw a broad selloff Thursday, with Australia shares closing at a low not seen in over a year, while mainland China stocks bucked the broader trend to end Thursday higher.

In Japan, the Nikkei 225 swooned 668.14 points, or 2.1%, to 30,601.78.

In Hong Kong, the Hang Seng Index lost 40.72 points, or 0.2%, to 17,044.61.

Korean markets noted a low not seen since January 6.

This comes as shares of South Korean chip supplier SK Hynix dropped after announcing a 2.18-trillion won ($1.61-billion) net loss for the third quarter, in contrast to a 1.11-trillion won net profit in the same period a year ago.

South Korea’s gross domestic product grew 0.6% in the third quarter from the prior quarter, a slightly higher-than-expected pace compared to a Reuters poll.

Australian markets hit a low point not seen since last October.

CHINA

In Shanghai, the CSI 300 gained 9.68 points, or 0.3%, to 3,514.14, the only index in positive territory Thursday.

Chinese electric car company Xpeng said this week it plans to roll out driver-assist technology in Europe by the end of next year, and remains on track with plans to expand the tech to 50 cities in China by year-end.

In other markets

In Taiwan, the Taiex retreated 285.15 points, or 1.7%, to 16,073.74.

In Korea, the Kospi index shed 64.09 points, or 2.7%, to 2,299.08.

In Singapore, the Straits Times Index deleted 7.47 points, or 0.2%, to 3,071.31.

In New Zealand, the NZX 50 skidded 35.5 points, or 0.3%, to 10,848.54

In Australia, the ASX 200 dipped 42.02 points, or 0.6%, to 6,812.32.