Shares in the Asia-Pacific fell sharply on Thursday as investors digest the results of a private survey on China’s factory activity.
The Nikkei 225 cratered 430.06 points, or 1.5%, to 27,661.47.
The Japanese yen weakened sharply against the U.S. dollar early in Asia, reaching as high as 139.58 as it inches toward the 140 level.
In Hong Kong, the Hang Seng index withered 357.08 points, or 1.8%, to 19,597.31.
Stocks of Asia’s largest chipmakers fell after the U.S. government told Nvidia to restrict artificial intelligence chip sales in China, citing national security concerns.
Taiwan Semiconductor Manufacturing Company, the world’s largest chip manufacturer, fell 2.87%.. Its South Korean rivals Samsung Electronics fell 2.18% while SK Hynix also slid 2.94%.
The Australian dollar weakened to $0.6827 U.S.
CHINA
In Shanghai, the CSI 300 dropped 35.1 points, or 0.9%, to 4,043.73.
China’s Caixin/Markit manufacturing Purchasing Managers’ Index for August released Thursday showed the sector slipping into contraction this month.
This comes after official manufacturing PMI data released on Wednesday showed that factory activity shrank amid a recent rise in COVID infections, and the nation facing the worst heatwaves in decades.
In other markets
In Taiwan, the Taiex dumped 293.58 points, or 1.9%, to 14,801.86
In Korea, the Kospi index forfeited 56.44 points, or 2.3%, to 2,415.61
In Singapore, the Straits Times Index eked ahead 2.41 points, or 0.1%, to 3,224.08.
In Australia, the ASX 200 faded 141.16 points, or 2%, to 6,845.60.
In New Zealand, the NZX squeezed up 8.72 points, or 0.1%, to 11,609.82.
