Asian Stocks Decline as Tech Giants and Semiconductor Industry Fall
Asian markets experienced a sharp decline for the second consecutive day, with notable drops in tech stocks and the electronic chip manufacturing sector. The MSCI Asia-Pacific Index fell by 2.7%, the Japanese Nikkei 225 declined by 5.2%, and Taiwanese semiconductor companies recorded their largest daily drop since April 2025. Additionally, Japanese firm Qoxia’s shares plummeted by up to 16%. Market sentiment was affected by a 9% drop in Netflix shares, while Nasdaq 100 futures decreased by 1.4%. On the energy front, Brent crude oil prices rose near $85 per barrel, marking a weekly increase of 12%, which heightened inflation fears and global interest rate pressures. Investors are awaiting large corporate investments totaling $725 billion amid deteriorating performance in the semiconductor sector, with the Philadelphia Semiconductor Index down 19% since June and Alphabet’s stock dropping 4.4% after delays in launching AI models. U.S. Treasury yields remained steady at 4.55%, and gold prices held around $3,982 per ounce, as cryptocurrencies like Bitcoin and Ethereum experienced declines.
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