Stock market of Asia tumbles in Wednesday Trade after blow in US Benchmarks

The stock market of Asia witnessed a decline in Wednesday trading after the selling of technology shares in Wall Street that pulled U.S. benchmarks lower.

According to the details, Australia’s benchmark led regional declines, losing more than 2%. Japan’s Nikkei 225 fell by 1.6%.

Hang Seng HSI, -0.97% in Hong Kong dropped 1%. Australia’s S&P/ASX 200 XJO, -2.38% tumbled 2.3% and the Shanghai Composite index SHCOMP, -1.06% shed 1%. South Korea’s Kospi 180721, -0.78% fell 0.8%.

Among big losers in the technology, sector was SoftBank Group Corp. 9984, -4.22%, which fell 5%, Alibaba Group Holding 9988, -2.67%, whose shares fell 2.5% in Hong Kong, and semiconductor maker SMIC 981, -1.91%, which lost 2.7%.

Shares also fell in Taiwan and most of Southeast Asia. Overnight, the S&P 500 fell 2.8% to 3,331.84, clinching its first three-day losing streak in nearly three months. Nearly 90% of all shares were lower.