In its biggest one-day slide since December, the MSCI Asia Pacific Information Technology index fell 1.5 percent, after hitting a 17-year high on Friday. That pulled down the MSCI Asia Pacific index by 0.4 percent. But with Asian tech valuations cheap relative to U.S. ones, investors and analysts in the region largely dismiss the possibility that Monday's pullback will turn into a longer-term rout. Advertisement Continue reading the main storyThe S&P 500 information technology index shed 2.7 percent, while the tech-heavy Nasdaq slumped as much as 2.9 percent before closing down 1.8 percent. But investors and analysts remained largely sanguine about the fundamentals of Asian tech companies, despite Monday's pullback.

Source: New York Times June 12, 2017 05:37 UTC