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Asian shares skid, tracking Wall Street retreat

By ELAINE KURTENBACH
AP Business Writer

BANGKOK (AP) — Asian shares are lower after a retreat on Wall Street that left the Nasdaq composite down 2.5%. Tokyo fell nearly 2% but regained some ground later in the session. Hong Kong, Shanghai and Seoul were also lower. China reported its global trade surplus surged nearly 30% in 2021 to $676.4 billion. South Korea’s central bank raised its key interest rate to 1.25% from 1%, acting to counter inflation. On Thursday, the S&P 500 fell 1.4%. Microsoft, Nvidia and other big tech companies had some of the biggest losses. The Dow Jones Industrial Average gave back 0.5%, though industrial stocks did relatively well. Financial stocks were mixed ahead of quarterly report cards Friday from several major banks.  

Associated Press

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