Asian shares pull back, chilled by decline on Wall Street

Asian shares have fallen after a retreat on Wall Street as banks and health care companies pulled the S&P 500 and the Dow Jones Industrial Average back from their latest record highs

Asian shares fell Thursday after a retreat on Wall Street as banks and health care companies pulled the S&P 500 and the Dow Jones Industrial Average back from their latest record highs.

Shares fell in most major regional markets and oil prices also declined.

In Seoul, the Kospi edged 0.2% higher, to 3,030.56, after Samsung Electronics reported its highest quarterly profit in three years thanks to continued robust demand for its computer memory chips.

Samsung’s dual strength in parts and finished products has allowed it to flourish during the pandemic as millions of people were forced to work at home. However, the company said it was dealing with “longer-than-expected” component shortages that may affect the demand for semiconductors during the current quarter.