Shares slipped Friday in Asia after a day of dramatic swings on Wall Street that included Microsoft’s worst drop in nearly six years.
Oil prices dropped and the prices of gold and silver weakened.
The CEO of Indonesia’s stock market, Imam Rachman, resigned Friday “As part of a commitment toward recent market conditions,” the exchange said in an announcement.
Jakarta’s benchmark gained 1.2% following news of his resignation. It had been trading at all-time highs but sank 7.4% on Wednesday and 1.1% on Thursday after MSCI, a U.S. provider of global equity, fixed income and real estate indices, warned about market risks such as a lack of transparency.
Chinese markets retreated, with the Hang Seng in Hong Kong down 1.8% to 27,455.13. Shares in major ports operator CK Hutchison Holdings dropped 5% after Panama’s Supreme Court ruled that the concession held by a subsidiary to operate ports at either end of the Panama Canal was unconstitutional.
That advanced a U.S. effort to block any influence by China over the strategic waterway.
The Shanghai Composite index slipped 0.9% to 4,122.61.
Tokyo’s Nikkei 225 fell back, losing 0.1% to 53,322.85 as stocks related to artificial intelligence declined. Testing equipment maker Advantest lost 4.5% and computer chip equipment maker Disco Corp. lost 1.7%.
South Korea’s Kospi gave up most of its gains late in the session, edging 0.1% higher to 5,224.36 after the Yonhap News Agency reported that a first day of talks with U.S. Commerce Secretary Howard Lutnick aimed at resolving trade tensions had not yielded an agreement. The talks are due to continue Friday.
Earlier this week, President Donald Trump said he planned to raise tariffs on South Korean exports if the U.S. ally did not swiftly ratify a trade agreement worked out months ago.
In Australia, the S&P/ASX 200 declined 0.7% to 8,869.10.
Taiwan’s benchmark lost 1.5%.
On Thursday, U.S. stocks finished wi