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20.04.201804:48:00UTC+00Asian Markets Edged Down as Tech Stocks Pullback

A slump on Wall Street spilled over to Asian markets on Friday, with regional stock ending stock indexes closing the day modestly lower amid declines in the technology sector.

Japan's Nikkei 225 edged down 0.13 percent or 28.94 points, to close at 22,162.24 as semiconductor firms declined while financials and utilities mostly advanced.

South Korea's Kospi index fell by 0.39 percent to 2,476.33 and Australia's S&P/ASX 200 closed the day down 0.21 percent at 5, 868.80.

Greater China markets also posted declines, with Hong Kong's Hang Seng Index edging down 0.67 percent. Mainland markets observed bigger declines, with the Shanghai composite index declining 1.47 percent to end at 3,071.47 and the Shenzhen composite shedding 2 percent to close at 1, 778.34. Losses during the session were broad-based, with airline, carmakers and financials taking a hit.

Semiconductor firms in the Asian region traded lower after Taiwan Semiconductor Manufacturing, the biggest contract chipmaker globally, issued a guidance that second-quarter revenue will come in between $7.8 billion and $7.9 billion, below estimates of $8.8 billion.

The weak guidance of the firm was attributed by Morgan Stanley to order reductions from Apple iPhone processors. Shares of TSMC fell 6.34 percent, weighing down Taiwan's Taiex by 1.75 percent.

In Japan, Tokyo Electron and Advantest fell 2.05 percent and 2.21 respectively. South Korea's Samsung Electronic declined 2.2 percent and chipmaker SK Hynix fell 3.98 percent.

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