All the Asian equity indices are trading in red in the early deals on Wednesday after US stocks fell sharply overnight following a sell-off in technology shares amid concerns about tighter industry regulations. China and Hong Kong stocks fell, tracking losses on the Wall Street where tech firms were hit hard on concerns over tighter government scrutiny on the industry. Meanwhile, Japanese stocks tumbled, led by a sell-off in tech firms after their US counterparts skidded on concerns over government regulation, while shares going ex-dividend added to the broader losses in Tokyo.
Nikkei 225 dropped 340.34 points or 1.6% to 20,976.98, Hang Seng slipped 453.91 points or 1.47% to 30,336.92, Taiwan Weighted dipped 105.78 points or 0.96% to 10,881.01, Jakarta Composite contracted 39.78 points or 0.64% to 6,169.57, KOSPI Index declined 36.16 points or 1.47% to 2,415.90, Shanghai Composite decreased 35.17 points or 1.11% to 3,131.48, FTSE Bursa Malaysia KLCI tumbled 3.69 points or 0.2% to 1,858.76, and Straits Times down by 40.80 points or 1.19% to 3,398.55.
