Business · Markets · 1 hr ago
Asian stocks extend losses as investors retreat from technology shares
Asian stocks fell for a second day on Friday, following a sharp sell-off in US technology shares.
The regional MSCI equities benchmark slipped 0.3%, while Nasdaq 100 futures also declined 0.3% in early Asian trading.
Investors pulled back from technology giants after a strong rally earlier in the year and concerns that AI-related investments may not deliver the expected returns.
The Nasdaq 100 fell 2.9% in the previous session, and the Philadelphia Semiconductor Index dropped 6.7%.
Money shifted toward safer investments, including US Treasuries, the Japanese yen and defensive dividend-paying shares.
The 10-year US Treasury yield fell to 4.95%, and oil traded near $113.10 a barrel amid concern about supply risks after attacks in Saudi Arabia.
Next week brings fresh tests for markets, with results from Microsoft, Amazon and Alphabet due alongside the Federal Reserve’s policy decision.
Asian stocks extended losses as investors moved away from technology shares after a sharp sell-off on Wall Street.
MSCI’s regional equities benchmark fell 0.3% for a second day, hovering around levels last seen in July.
The Nasdaq 100 had fallen 2.9% and the Philadelphia Semiconductor Index dropped 6.7%, their biggest declines since late June.
Investors sought safer assets, helping Treasuries rally and the yen strengthen.
SK Hynix scrapped an initial public offering for its US subsidiary Solidigm after shareholder opposition.
- Who
- Asian stock markets and investors retreating from technology shares.
- What
- Asian stocks extended losses as investors rotated out of technology shares and sought safer assets.
- When
- 2026-10-23; the article says the regional equities benchmark fell for a second day.
- Where
- Asian markets, following declines on Wall Street.
- Why
- Investors reconsidered technology and AI-related assets after a rally earlier in the year and concerns about the sustainability of AI investment.
This story does not have two clearly opposing sides.
The Nasdaq 100 fell 2.9% and the Philadelphia Semiconductor Index sank 6.7%, their biggest declines since late June.
Asian stocks extended their losses, while Nasdaq 100 futures fell 0.3%.
- MSCI regional equities benchmark
- Fell 0.3% for a second day
- Nasdaq 100
- Fell 2.9%
- Philadelphia Semiconductor Index
- Fell 6.7%
- SK Hynix subsidiary
- Solidigm
- 10-year Treasury yield
- Declined 17 basis points to 4.95%
What people are saying
Sentiment seems to be shakier these days as investors reconsider AI-related assets,
With US yields still elevated by recent standards, investors may want to hedge off some of these risks by seeking safety in Treasuries.