A blistering run in global equities halted amid rising concern that technology valuations have run too far.
Asian shares fell 0.8%, tracking declines in the US, with technology firms dragging in Japan and China. Semiconductor Manufacturing International Corp. slumped 7% after reports that brokerages have cut the stock’s margin financingBloomberg Terminal ratio to zero, citing high valuations. A gauge of Chinese tech shares in Hong Kong was set for its worst week since early August. Equity-index futures for Europe and the US were flat.
