Asian stocks collapse after Wall Street technology sells

BEIJING (AP) – Most Asian equities tumbled on Tuesday after technology sales dragged Wall Street down.

KEEPING THE SCORE: The Tokyo Nikkei 225 lost 2.3% to 21,760.59, while the Shanghai Composite Index gained 0.8% to 2,652.70. The Sydney S & P-ASX 200 fell 1.8% to 5,834.20 and the Seoul Kospi fell 0.7% to 2,065.42. Hong Kong's Hang Seng rose 0.2% to $ 25,706.88, while the Indian Sensex edged up 0.2% to $ 34,747.01. Jakarta won while New Zealand, Taiwan and other markets in Southeast Asia declined.

WALL STREET: Sales of technology companies lost more than 600 points to the Dow Jones Industrial Average. The wave of snares sales of big names like Apple, Amazon and Goldman Sachs. Banks, consumer-driven businesses and media and communications values ​​have all suffered heavy losses. This weighed on the chip makers. The Standard & Poor's 500 index lost 2% to 2,726.22. The Dow yielded 2.3% to 25,387.18. He was briefly down 648 points. The Nasdaq composite slid 2.8% to 7,200.87.

Apple: The technological fall has followed an analyst report suggesting that Apple significantly reduce orders from one of its suppliers. This has fueled questions about the outlook for technology industries and US economic growth. Apple dropped 5% after Wells Fargo analysts said the iPhone maker was the anonymous customer of optical communications companies Lumentum Holdings, which had announced a significant reduction in orders. Lumentum shares plunged 33%.

US-CHINA TRADE: Markets in Shanghai and Hong gained ground after South China Morning Post announced that Vice Premier Liu He, chief economic advisor to Chinese President Xi Jinping, would travel to Washington before the meeting planned between the latter and US President Donald Trump. The newspaper, citing unidentified sources, said the visit was aimed at easing trade tensions, but that no timetable had been set. Both parties have increased tariffs on billions of dollars worth of goods between them in the context of a dispute over US complaints about Beijing's technology policy. Xi and Trump are scheduled to meet at the meeting of the Group of 20 of Argentina's leading economies this month.

ANALYST'S TAKE: "Early morning sales in the United States in the tech sector triggered the stock defeat," said Stephen Innes of OANDA in a report. "It's hard to overlook the slowdown in global growth, while the Trump administration seems poised to put pressure on trade with China." A stronger US dollar generally acts as a "ball of destruction through Asian equities".

OPEC: Saudi Arabia has said the oil cartel and allied crude oil producers will likely reduce their supplies, perhaps as much as 1 million barrels of oil a day, in order to rebalance the market after the Failure of US sanctions to reduce Iranian production. Khalid al-Falih's comments show that US allies face difficulties in dealing with President Donald Trump's actions. Trump has asked OPEC to increase production to lower gas prices in the United States. Al-Falih, who announced Sunday that the kingdom would cut production by more than 500,000 barrels a day in December, said Saudi Arabia was providing its customers "100% of their demands". It seemed like a veiled reference to Trump.

ENERGY: The benchmark US crude sold 87 cents to 59.04 dollars per barrel in electronic trading on the New York Mercantile Exchange. The contract fell 26 cents Monday to $ 59.93. Brent, used for the price of oil on the international market, lost 81 cents to 69.33 dollars in London. It declined from 6 cents the previous session to $ 70.12.

CURRENCY: The dollar fell to 113.89 yen against 113.84 yen on Monday. The euro rose from 1.1218 dollar to 1.1281 dollar.