(MENAFN- Baystreet.ca)
Hang Seng Plumbs Multi-Year Lows
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Hong Kong stocks plunged to its lowest levels since April 2009, leading losses in the Asia-Pacific as the Bank of Japan left its benchmark interest rate unchanged.
The Nikkei 225 dropped 240.04 points, or 0.9%, to 27,105.20.
The Japanese yen initially maintained 146-levels after the Bank of Japan kept rates at ultra-low levels, but later weakened past 147.
In Hong Kong, the Hang Seng cratered 564.88 points, or 3.7%, to 14,863.06.
Tencent fell 5.9% and Meituan fell 8.1%, while Xiaomi and Alibaba both lost more than 5%.
Bilibili plunged 11.3%, while EV-maker Xpeng fell 14.4%. Li Auto also fell more than 11%.
Semiconductor stocks in Asia slumped after U.S. Under Secretary of Commerce Alan Estevez said he expects an imminent deal with allies to limit some chip-related exports to China.
Samsung Electronics dropped more than 3%, while SK Hynix tanked 6%.
Taiwan Semiconductor Manufacturing Company slid 1.56% and Semiconductor Manufacturing International Corporation lost 1.92%.
In other markets
In Shanghai, the CSI 300 fell 89.81 points, or 2.5%, to 3,541.33.
In Taiwan, the Taiex faltered 137.95 points, or 1.1%, to 12,926.39.
In Korea, the Kospi index moved downward 20.38 points, or 0.9%, to 2,268.40.
In Singapore, the Straits Times Index gained 43.95 points, or 1.5%, to 3,059.19.
In New Zealand, the NZX 50 picked up 29.01 points, or 0.3%, to 11,129.53.
In Australia, the ASX 200 sagged 59.41 points, 0.9%, to 6,785.72.
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