BANGKOK — Shares retreated in Asia on Friday after losses for influential technology stocks pulled Wall Street benchmarks lower.
U.S. futures edged higher and oil prices advanced.
Japan’s Nikkei 225 index fell more than 2% early in the session and was trading 1.6% lower at 50,064.38.
China reported that its exports contracted 1.1% in October, as shipments to the United States dropped by 25% from a year earlier. But economists expect Chinese exports to recover after U.S. President Donald Trump and Chinese leader Xi Jinping agreed last week to de-escalate the trade war between the two largest economies.
Hong Kong’s Hang Seng index fell 0.9% to 26,247.36, while the Shanghai Composite index was nearly unchanged, at 4,007.45.
South Korea’s Kospi shed 2.2% to 3,937.22 and Taiwan’s Taiex lost 0.7%.
In Australia, the S&P/ASX 200 skidded 0.8% to 8,761.10.
Technology industries have helped drive markets up and down all week.
On Thursday, the S&P 500 fell 1.1% to 6,720.32 and the Dow Jones Industrial Average declined 0.8%, to 46,912.30. The Nasdaq fell 1.9% to 23,053.99.
The biggest weights on the market included Nvidia, which dropped 3.7%, and Microsoft, which fell 2%. Their huge values give them outsized influence over the market’s direction. Other big stocks dragging down the market included Amazon, which slumped 2.9%.
Elon Musk won a shareholder vote on Thursday that would give the Tesla CEO stock worth $1 trillion if he hits certain performance targets over the next decade. The company’s shares, already up 80% in the past year, fell but then rose in after-hours trading, ending at $445.91.
Corporate earnings and forecasts remained the big focus for Wall Street on Thursday. The latest round of results and statements from executives could help shed some light on the condition and path ahead for the economy amid a lack of broader information on inflation, employment and retail sales because of the ongoing government s