Hong Kong Stocks Fall As Tech Shares Feel The Heat

Hong Kong stocks retreated on Wednesday tracking a sharp sell-off on Wall Street as dealers worry about rising US interest rates, while technology firms extended losses following another painful day for their US counterparts.

The Hang Seng Index shed over 1 percent, to close at 30,328.

On the mainland, the Shanghai Composite Index fell 0.4 percent, to 3,117 but the Shenzhen Composite Index climbed 0.3 percent, to 1,809.

Tokyo ended 0.3 percent lower as a weaker yen was unable to provide support, while pharmaceutical giant Takeda plunged seven percent after it ramped up its offer for Irish rival Shire.

Singapore dropped 0.7 percent, Seoul was 0.6 percent off and Taipei lost 0.2 percent.

Sydney and Wellington were closed for Anzac Day.

Technology firms were among the worst performers again after a big sell-off in their US counterparts including Apple, Amazon, Alphabet, Facebook and Microsoft.

Hong Kong-listed AAC Technologies tumbled 2.5 percent, Apple supplier TSMC shed 0.9 percent in Taipei and South Korean titan Samsung eased 0.1 percent. (AFP)