Asian Shares Slide as Tech Slumps, Policy Decisions Loom

Asian markets fell on Thursday as tech stocks weakened on renewed worries over heavy AI spending, while investors braced for a busy slate of global central bank meetings. MSCI’s Asia ex-Japan index slipped 0.3%, with losses in South Korea (-1.2%), Japan (-1.1%), and Hong Kong (-0.4%).

Commodities were volatile amid rising geopolitical tensions. Oil extended gains after President Trump ordered a blockade on sanctioned Venezuelan oil tankers, while silver hit a fresh record, lending support to gold.

In currencies, sterling stayed under pressure after a sharp drop in UK inflation strengthened expectations of a Bank of England rate cut later in the day. Markets are also watching policy decisions from the ECB, Norges Bank and Riksbank, while Japan is seen hiking rates on Friday.

US futures edged higher after a tech-led Wall Street selloff, though sentiment remains fragile as investors reassess the outlook for AI-related spending.