Asian Shares Fall Across Markets Amid US Tech Selloff, Dollar Strengthens

Asian stock markets declined following a significant selloff in U.S. technology shares, with the MSCI Asia-Pacific index outside Japan dropping 0.47%, and major indices such as Japan's Nikkei and China's CSI300 also falling. The selloff was intensified by news that Nvidia and AMD agreed to allocate 15% of their revenue from chip sales in China to the U.S. government, along with reports of a potential 10% U.S. stake in Intel, raising concerns about increased government intervention in the tech sector under President Donald Trump's administration. Investors are also cautious ahead of the upcoming Federal Reserve meeting in Jackson Hole, where expectations of a possible interest rate cut add to market uncertainty. Despite the week’s focus on the Russia-Ukraine conflict discussions involving President Trump and Ukrainian President Zelenskiy, the markets remained primarily influenced by shifts in tech valuations and monetary policy outlooks. The U.S. dollar gained strength amid these developments, while oil prices inched higher on hopes for eased sanctions on Russian crude following potential peace talks. Overall, the market mood reflects investor wariness about stretched tech stock valuations and geopolitical and economic uncertainties.