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Asian stocks fell broadly on Thursday as tech shares came under heavy selling pressure on signs of worsening trade tensions between the China and the United States. <\/p>\n
Media reports suggested that Washington was mulling tighter curbs on exports of advanced semiconductor technology<\/span> to China.<\/p>\n Separately, Republican presidential nominee Donald Trump suggested Taiwan should pay the U.S. for defense in a controversial interview.<\/p>\n The dollar lingered near four-month low in Asian trade after the Japanese yen scaled a six-week high, sparking speculation of official intervention. <\/p>\n Gold edged neared to record highs on U.S. rate cut speculation while oil extended gains from the previous session after a drop in U.S. crude stockpiles. <\/p>\n China’s Shanghai Composite index rose 0.48 percent to 2,977.13 and Hong Kong’s Hang Seng index edged up 0.22 percent to 17,778.41 as China’s ruling Communist Party wrapped up a top-level meeting, with investors expecting policies to help revive growth. <\/p>\n Japanese markets<\/span> tumbled amid a sell-off in the tech sector. Also, the yen’s strengthening against the dollar dragged export-oriented issues. <\/p>\n The Nikkei average slumped 2.36 percent to 40,126.35 while the broader Topix index fell 1.60 percent to 2,868.63. <\/p>\n Tokyo Electron, which ships advanced semiconductor technology to China, plunged 8.8 percent. Screen Holdings lost 8.4 percent, Advantest gave up 4.9 percent and SoftBank Group shed 6.1 percent. <\/p>\n Investors ignored data that showed Japan posted a trade surplus in June for the first time in three months.<\/p>\n Seoul stocks ended lower, with the Kospi average falling 0.67 percent to 2,824.35, dragged down by tech stocks. <\/p>\n SK Hynix shares fell 3.6 percent and automaker Hyundai Motor declined 3 percent while shipbuilder Samsung Heavy Industries rose 1.3 percent. <\/p>\n Australian markets fell from a record high reached in the previous session as data showed employment jumped beyond expectations in June, sparking fears of rate hikes. <\/p>\n The benchmark S&P\/ASX 200 dropped 0.27 percent to 8,036.50, with banks and tech stocks pacing the declines. The broader All Ordinaries index settled 0.37 percent lower at 8,272.70.<\/p>\n Domino’s Pizza Enterprises plunged 8.2 percent after the company reported a weak outlook for its store growth. <\/p>\n Across the Tasman, New Zealand’s benchmark S&P\/NZX-50 index inched up 0.30 percent to 12,329.44.<\/p>\n U.S. stocks ended mixed overnight as shares of chipmakers and large-cap companies retreated on valuation concerns. <\/p>\n In economic releases, data showed housing starts and building permits recovered in June. A measure of U.S. industrial production cooled in the month but still exceeded analyst expectations.<\/p>\n The tech-heavy Nasdaq Composite plummeted 2.8 percent amid talk of tougher rules to rein in China’s chip industry and Trump’s comments that Taiwan should pay the U.S. for defence. The S&P 500 tumbled 1.4 percent while the Dow rose 0.6 percent. <\/p>\n<\/p>\n Market Analysis<\/p>\n<\/div>\n