Asian Shares Slide as Tech Firms Drag Down Markets

Asian shares declined on Thursday after a tech-driven surge the previous day, while oil prices remained steady as markets continued to assess prospects for an Iran peace deal.

The MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.69% due to declines in tech firms, with South Korean shares dropping 3.64% and Japan's Nikkei losing 1.57%.

Samsung Electronics plummeted 2.44% in Seoul, while SK Hynix lost 6.95%. Kioxia fell 9.61% and Tokyo Electron slumped 4.61% in Tokyo.

The pullback followed a weaker session on Wall Street overnight, where the Nasdaq snapped its days-long winning streak as shares of SpaceX and Advanced Micro Devices stumbled after their quarterly earnings.