Asian stocks retreat on US tech sell-off as chipmakers lead losses
SK Hynix, Samsung Electronics and Advantest contribute the most to the declines
Asian equities declined alongside Wall Street as investors reduced exposure to technology shares ahead of earnings that could test confidence in the AI trade. The MSCI Asia Pacific equities index slipped 0.4 percent, with chip stocks SK Hynix, Samsung Electronics, and Advantest leading the losses. The S&P 500 futures remained unchanged, while the Hang Seng and Nikkei 225 futures showed gains and declines, respectively.
Australia's S&P/ASX 200 rose slightly on the day. The Nasdaq 100 Index dropped nearly 1 percent, following a sell-off in semiconductor giants, with Nvidia falling for a seventh consecutive session. Brent oil prices edged lower as US Treasury Secretary Scott Bessent warned of economic punishment for countries doing business with Iran.
Gold rose for a fifth day, hovering around levels last seen in May. Investors are closely watching Nvidia's results on Wednesday for signs that the recent weakness in chipmakers has further to run. The outlook for technology shares is seen as a key test for broader risk sentiment.
Written by urgent.news from The Business Times - Companies & Markets's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
