Asian stocks traded lower after a selloff in US semiconductor shares as concerns grew that the pace of artificial intelligence development may slow. Oil extended its rally and gold declined.
MSCI’s Asia Pacific equities gauge slipped 0.1%, with benchmarks in Japan and South Korea edging lower. The move followed a retreat on Wall Street on Monday, where the Philadelphia Semiconductor Index tumbled 5.9% — its biggest drop in more than two months — with Nvidia Corp. and Intel Corp. among the decliners.
