Asia-Pacific markets mostly fell Tuesday, after the tech sell-down on Wall Street continued on AI bubble fears.
Nvidia shares dropped more than 1% Monday stateside, giving back some of its more than 5% gain in last week’s period. Palantir Technologies and Meta Platforms also suffered losses, as did Oracle.
Australia’s S&P/ASX 200 started the day up 0.19%.
Japan’s Nikkei 225 was down 0.49%, while the broad-based Topix was 0.36% lower.
Shares of Softbank Group Corp slipped over 2%, after the company announced a deal late Monday to buy data center investment firm DigitalBridge for $4 billion as part of its artificial intelligence push.
SoftBank CEO and Chairman Masayoshi Son said the acquisition “will strengthen the foundation for next-generation AI data centers” and advance the firm’s vision to become a leading “Artificial Super Intelligence” platform provider. Shares of DigitalBridge jumped about 10% after the announcement.
South Korea’s Kospi lost 0.41%, and the small-cap Kosdaq declined 0.36%.
Hong Kong’s Hang Seng index futures were at 25,603, marginally lower than the HSI’s last close of 25,635.23.
Investors will be focused on China’s military exercises around Taiwan, after the world’s second largest economy announced new drills surrounding the island Monday.
U.S. futures were little changed in early Asian hours.
Overnight in the U.S., the S&P 500 dropped 0.35%, while the Nasdaq Composite shed 0.50%. The Dow Jones Industrial Average pulled back by 0.51%.
Traders will be looking for home price data due Tuesday stateside at 9 a.m. ET, and the Federal Reserve’s December meeting minutes at 2 p.m. ET.
—CNBC’s Sean Conlon and Fred Imbert contributed to this report.
Source: CNBC