Asian equity markets reversed early gains to close lower, with selling pressure intensifying in the technology sector and across the region.
The downturn was particularly sharp in South Korea, where chipmaker SK Hynix fell 10% from its intraday peak, signaling deepening caution among investors ahead of key economic data releases later in the day.
1%. These losses underscore a shift in market sentiment as traders digest a combination of sector-specific headwinds and macroeconomic uncertainty.
The broad-based decline reflects a continuation of the weak start to the quarter for Asian equities.
The MSCI Asia Pacific ex-Japan index has been under sustained pressure, falling 0.8% in recent sessions, while Japan’s Nikkei 225 dropped 1.1%.
These losses underscore a shift in market sentiment as traders digest a combination of sector-specific headwinds and macroeconomic uncertainty.
Renewed selling in technology stocks was a primary driver of the retreat, compounded by escalating geopolitical tensions in the Middle East.