Asian markets mostly lower, tracking losses on Wall Street after tech-led pullback

Low angle view of high-rise buildings in Tokyo, Japan, showing various architectural styles

George Paschantoulis | Moment | Getty Images

Asia-Pacific markets were mostly lower on Wednesday, tracking losses on Wall Street as a sell-off in U.S. technology stocks weighed on sentiment, while gold extended gains for a second straight day.

Japanese Nikkei 225 Index It fell 1.2%, dragged down by technology stocks. The biggest decliners in the index were chip equipment manufacturers laser technologyplummeted 7%, while the game maker Konami Groupdown 5.8%. Japan’s semiconductor equipment powerhouse Tokyo Electronics It also dropped 3.2%.

The Topix fell 0.39%.

Australian S&P/ASX 200 Index It fell 0.22%, led by technology, academic and educational services stocks.

South Korea’s Kospi rose 0.4% and the small-cap Kosdaq rose 1.01%.

Nintendo shares fall More than 9%Despite maintaining full-year sales forecast for Switch 2 console, investors evaluative Some of the potential headwinds facing the gaming giant include whether the company will be affected by an unprecedented surge in the price of memory – a key component of its gaming consoles.

Hongkong Hang Seng Index Futures were at 26,590 points, below the benchmark’s last closing price of 26,834.77 points.

Spot gold prices rose more than 1% to $5,002 an ounce, while spot silver prices rose 0.69% to $85.70 an ounce.

Overnight in America, S&P 500 Index The pullback came as investors sold off technology stocks and moved into stocks more broadly tied to an improving economy.

The broader market index fell 0.84% to close at 6,917.81 points. this Dow Jones Industrial Average It fell 166.67 points, or 0.34%, to close at 49,240.99 points. Earlier, the 30-stock index rose 0.5% to hit 49,653.13 points, another record high. this Nasdaq Composite Index It fell 1.43% to close at 23,255.19 points.

Most tech stocks are in the red, including most of the Big Seven that have reported earnings so far — Microsoft and meta platform fell more than 2%, while apple Slightly lower. NVIDIA Shares of the artificial intelligence leader also fell sharply, down nearly 3%, adding to losses this year. Meanwhile, software stocks continue to decline in 2026, with Immediate service and salesperson Each dropped nearly 7%.