Asian shares were mixed on Thursday as a tech slump, fired by downbeat earnings forecasts from Facebook parent Meta Platforms, weighed in most corners, while positive bets on China’s markets lifted the mood elsewhere.
A 15% dive in shares of Meta in extended trading after the Instagram owner forecast lighter-than-expected current quarter revenue and higher expenses soured the mood in New York, sparking a sell-off in US tech and tech-related stocks.
Japan’s Nikkei share average fell after a three-session rally, with technology stocks leading the retreat, while investors waited for a Bank of Japan policy decision on Friday for further direction.
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The Nikkei closed 2.16% lower at 37,628.48. It had risen 2.42% on Wednesday in its biggest jump in more than a month, passing the 38,000 level again. The broader Topix fell 1.74% to 2,663.53.
