Asian Stocks Fall on Tech Losses
Asian equities traded lower on Tuesday, following overnight losses on Wall Street as technology and artificial intelligence stocks remained under selling pressure. Investors also remained cautious ahead of the US midterm elections, while falling oil prices amid signs of diplomatic progress between the US and Iran did little to improve overall market sentiment. South Korea’s Kospi led regional declines, sliding nearly 3% as shares of SK Hynix and Samsung Electronics each fell more than 3%. Chinese markets also weakened, with the Shanghai Composite and Shenzhen Component indexes posting losses despite the central bank’s pledge to encourage financial institutions to make greater use of stock-market support measures and improve their terms to help stabilize the market. Meanwhile, Japanese financial markets were closed for a national holiday.
Story updates
Asian equities traded lower on Tuesday, following overnight losses on Wall Street as technology and artificial intelligence stocks remained under selling pressure. Investors also remained cautious ahead of the US midterm elections, while falling oil prices amid signs of diplomatic progress between the US and Iran did little to improve overall market sentiment. South Korea’s Kospi led regional declines, sliding nearly 3% as shares of SK Hynix and Samsung Electronics each fell more than 3%.
Chinese markets also weakened, with the Shanghai Composite and Shenzhen Component indexes posting losses despite the central bank’s pledge to encourage financial institutions to make greater use of stock-market support measures and improve their terms to help stabilize the market. Meanwhile, Japanese financial markets were closed for a national holiday.