Hong Kong Joins Asian Retreat On Tech Losses

Hong Kong shares ended the morning session with more losses on Monday, with technology firms tracking another sharp loss in Apple.

The Hang Seng Index fell 0.4 percent, to 30,310 by the break.

On the mainland, the Shanghai Composite Index shed 0.4 percent to 3,058, while the Shenzhen Composite Index was down 0.9 percent, to 1,761.

Most other Asian markets fell, following another plunge in Apple as investors fret over the once-lucrative smartphone sector.

The US giant fell more than 4 percent on Friday, the day after a near-three percent drop that was fuelled by top smartphone chip supplier Taiwan Semiconductor Manufacturing Co. (TSMC) forecasting a plunge in sales.

The losses filtered through to Apple's Asian suppliers and other tech firms. AAC Technologies dived more than four percent in Hong Kong, TSMC shed one percent in Taipei and Alps Electric was 2.1 percent off in Tokyo, where Sharp lost almost five percent.

Japan's Nikkei ended the morning session 0.3 percent lower, while Seoul eased 0.3 percent. Wellington lost 0.1 percent and Taipei was 0.4 percent lower.

However, Sydney added 0.2 percent and Singapore edged 0.1 percent higher. (AFP)

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