Asian Shares Decline on Tech Stock Sell-Off amid US-China Tensions

Asian markets experienced a decline largely driven by a sell-off in technology stocks, following a weak session on Wall Street where major U.S. tech shares, especially those linked to AI and semiconductors, fell. The drop in U.S. tech stocks raised concerns over lofty valuations and profit expectations, which spilled over into key Asian markets such as Japan, South Korea, Taiwan, and Hong Kong. President Donald Trump cast doubt on a potential meeting with Chinese leader Xi Jinping, contributing to uncertainty in Chinese and Hong Kong markets, while also preparing for an Asian tour aimed at easing trade tensions and securing investment deals. Japan saw mixed market reactions amid a new prime minister's expected stimulus package and data showing a rise in exports to Asia, though exports to the U.S. declined due to Trump's tariffs. South Korea's Kospi index hit record highs thanks to strong gains in chipmakers and automakers, whereas Australia's market retreated from recent highs amid heavy selling in gold miners. Overall, concerns about inflation, interest rates, and trade tensions continue to weigh on growth-oriented tech stocks across the region.