Asian markets slumped after S&P 500 closed at a year’s low.
Shares in Asia-Pacific fell after an overnight Wall Street sell-off on Friday, the last day of the third quarter.
China’s official factory activity data expanded unexpectedly in August, beating estimates.
In Japan, the Nikkei 225 fell 1.78 percent, and the Topix index fell 1.54 percent. The Australian S&P/ASX 200 lost 0.88 percent.
In Hong Kong, the Hang Seng index fell 2.08 percent, while the Hang Seng Tech index fell 0.44 percent. Mainland China’s Shanghai Composite Shenzhen Component tumbled 0.38 percent.
Kospi fell 0.45% in South Korea and Kosdaq 0.61%. MSCI’s most extensive index of Asia-Pacific shares outside Japan fell 0.48 percent.
U.S. stocks fell in Thursday’s session, with the S&P 500 hitting a year low and a new closing low. The index fell 2.1 percent to end the session at 3,640.47. Meanwhile, the Dow Jones Industrial Average fell 1.54 percent to 29,225.61. The tech-heavy Nasdaq Composite dropped 2.84 percent to 10,737.51.
“Geopolitical and inflation risks are not diminishing, and risk assets are under pressure as expectations of lower growth and higher funding costs continue to permeate,” ANZ Research analysts said in a note Friday.
