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Japanese stocks declined after Fed Chair Kevin Warsh’s speech on Friday increased prospects for U.S. rate increases.

South Korea led a selloff in Asian chip stocks early Wednesday, as rising bond yields exacerbated worry over the large sums of cash being shelled out by Big Tech.

Chip Stocks Tumble as SK hynix Miss Overshadows AI Demand Strength

Asian markets mostly fell on Thursday as a heavy sell-off in chip shares spread across the region, while European stocks opened flat and US futures pointed lower ahead of a closely watched American jobs report.View on euronews

Shares were mostly higher Thursday in Asia, led by tech-driven gains in Japan and South Korea as major computer chipmakers’ stocks surged following upbeat earnings reports from U.S. giants like Qualcomm and Micron Technology. Oil prices fell more than $1, bringing them closer to where they were before the war with Iran started. Qualcomm’s share price surged 12% in afterhours trading after the company announced it had raised its forecast for revenue this year to $40 billion from $22 billion.

Asian stocks were mixed Monday with markets in Japan and South Korea trading higher, while oil prices edged lower on fresh optimism over progress in U.S.-Iran negotiations. Tokyo’s Nikkei 225 jumped 1.6% to 72,364.82, after reaching a new all-time record of 72,831.73 during intraday trading, helped by technology stocks that were fueled by excitement over the global artificial intelligence boom. Japan’s SoftBank Group, the multinational investment holding company with a strong AI focus, rose 2.4%.

Asian shares were mostly higher on Wednesday and oil prices fell after the U.S. stock market rose to more records. It topped 66,000 for the first time in intraday trading. Computer chip equipment maker Tokyo Electron's shares jumped 5.9% and testing equipment maker Advantest gained 5.7%.