Asian shares skid, tracking Wall Street retreat

Asian shares are lower after a retreat on Wall Street that left the Nasdaq composite down 2.5%

BANGKOK -- Asian shares slipped Friday after a retreat on Wall Street that left the Nasdaq composite down 2.5%.

Tokyo fell nearly 2% but recovered some ground later in the session. Hong Kong, Shanghai and Seoul also were lower.

China reported its global trade surplus surged nearly 30% in 2021 to $676.4 billion. The trade surplus in December swelled 20.8% over a year earlier to a monthly record of $94.4 billion, customs data showed Friday.

Exports rose to $3.3 trillion in 2021 despite shortages of processor chips for smartphones and other products as global demand rebounded from the pandemic. Manufacturers also were hampered by power rationing imposed in some areas.