Japan stocks dropped more than 1% and other Asia-Pacific markets fell on Thursday following two days of declines on Wall Street.
In Japan, the Nikkei 225 thundered lower 461.73 points, or 1.7%, to 26,888.57. Shares of Fast Retailing dropped 3.4%.
The Japanese yen traded at 123.76 per U.S. dollar.
In Hong Kong, the Hang Seng Index dropped 271.54 points, or 1.2%, to 21,808.98. Bilibili shares were down 4.4% and Alibaba’s Hong Kong shares fell 1.7%.
NASDAQ and Hong Kong-listed JD.com announced that Xu Lei will succeed founder Richard Liu as CEO of the company effective immediately. Liu will remain chairman of the board of directors, while Xu will be an executive director.
Last year, Liu stepped back from day-to-day operations, and Xu was named president of JD. The company’s shares listed in Hong Kong declined 3.2% on Thursday.
Samsung Electronics reported its operating profit for the first quarter of 2022 likely jumped around 50% as compared to a year ago. The memory chip and smartphone maker posted an estimated 14.1 trillion won ($11.6 billion) profit, it said in its earnings guidance.
The company’s stock was down 0.7%
The Japanese yen traded at 123.76 per dollar.
In other markets
In Shanghai, the CSI 300 shed 54.74 points, or 1.3%, to 4,209.10.
In Singapore, the Straits Times Index docked 18.72 points, or 0.6%, to 3,404.23
In Korea, the Kospi index ditched 39.17 points, or 1.4%, to 2,695.86.
In Taiwan, the Taiex index dumped 343.87 points, or 2%, to 17,178.63.
In New Zealand, the NZX 50 fell 3.39 points to 12,075.91.
In Australia, the ASX 200 subtracted 47.25 points, or 0.6%, to 7,442.83.
