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The Economic Times

Business

Global Market Today: Asian equities drop led by Kospi, oil extends gain

Oil United States US Federal Reserve Semiconductor Artificial Intelligence Inflation Bonds New Zealand SK Hynix Inc

Asian stocks declined as fresh selling in semiconductor stocks renewed concerns over the sustainability of the artificial intelligence trade. Crude oil climbed.

MSCI’s Asia Pacific equities gauge dropped 1.1%, with South Korea leading with a 4.5% decline. Chip bellwether SK Hynix Inc. tumbled over 8.4%. Shares in Japan also declined with the Nikkei dropping over 2%.

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