Stock market today: Asian shares sink, weighed down by Wall St tech retreat, China policy questions

Asian shares retreated Friday after a broad washout across Wall Street dragged U.S. stocks lower, and Hong Kong’s benchmark dipped more than 2% as investors remained wary over China’s plans for helping its ailing property sector.

U.S. futures rose while oil prices declined.

Chinese officials briefed reporters in Beijing on the outcome of a top-level meeting of the ruling Communist Party, providing some details of the sweeping blueprint it endorsed for making China a leader in technology, building its financial markets and raising living standards.

Their explanations remained relatively vague, though more details are expected in the weeks to come. In Hong Kong, the Hang Seng lost 1.8% to 17,458.64, while the Shanghai Composite index reversed early losses to gain 0.2%, closing at 2,9782.53.

In Tokyo, the Nikkei 225 lost 0.2% to 40,063.79, while South Korea's Kospi shed 1% to 2,795.46. Australia’s S&P/ASX 200 fell 0.8% to 7,971.60.

In Taiwan, the Taiex fell 2.3%, as computer chip-maker Taiwan Semiconductor Manufacturing Co.'s shares sank 3.5%, extending losses triggered by a report that Washington might double-down on restrictions on sales to China of semiconductors and equipment used to make and test them.

TSMC's U.S.-traded shares rose 0.4% on Thursday after the industry giant reported stronger profit for the latest quarter than analysts expected. It bounced back from its loss of 8% the prior day, but only after swerving between gains and losses.

The rout in the tech sector this week has dragged markets in the U.S. and Asia lower after a bout of strong gains.

On Thursday, European indexes were mixed after the European Central Bank held its main interest rate steady.

On Wall Street, the S&P 500 dropped 0.8% to 5,544.59. The Dow Jones Industrial Average dropped...