Asia-Pacific stocks tumble with major movers in tech and insurance sectors

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Asia-Pacific stocks tumble with major movers in tech and insurance sectors
Credit: © Reuters.

Asia-Pacific stocks experienced a significant decline on Thursday, with several key indices and industry players taking a hit. The Hang Seng Index fell by 2.5% while Japan's Nikkei 225 Index dropped by 1.9%. Other indices, including the Shanghai Composite Index , Singapore's FTSE Straits Times Index, South Korea's KOSPI Composite Index, and Australia's S&P/ASX 200 Benchmark Index, also faced drops.

In terms of individual movers, China Life Insurance saw its shares drop by 6.7%, one of the largest declines in the sector. Tech firms JD (NASDAQ: JD ).com and Baidu (NASDAQ: BIDU ) also reported significant losses, with their stocks falling by 5.4% and 5.3%, respectively. Moreover, Daiichi Sankyo, a pharmaceutical company, experienced a decrease of 7% in its stock value.

However, not all stocks were on a downward trajectory. Sunny Optical Technology witnessed an impressive rise of 8.7%, while Lenovo Group (OTC: LNVGY ) and Sands China (OTC: SCHYY ) saw their shares increase by 6.3% and 3.4%, respectively. Additionally, Keio and Odakyu Electric Railway reported increases in their share prices. Canon, an electronic office equipment company, also saw an uptick in its shares.

SCREEN Holdings was another company that experienced a decline with its shares falling by 5.9%. Yaskawa Electric also reported a decrease of 5% in its stock value.

This broad decline in Asia-Pacific stocks comes amidst ongoing market uncertainties and adjustments across global exchanges

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