Asian Stocks Shake After Global Tech Selloff; MSCI Asia-Pacific Flat as South Korea Rebounds 2.2%

Reuters reported that Asian equities steadied uncertainly on Wednesday following a sweeping global technology and semiconductor selloff, with MSCI's broadest Asia-Pacific index outside Japan slipping just 0.02% while analysts warned of renewed volatility risk. South Korean shares rebounded 2.2% after plunging 10% on Tuesday — their sharpest one-day drop since March — and Japan's Nikkei swung between gains and losses before last trading down 0.8%. The risk-off tone extended overnight from Asia to Europe and Wall Street, where the S&P 500 fell 1.4%, the Nasdaq Composite dropped 2.2%, and the Dow edged down 0.09% on concerns over rising debt-funded AI spending and speculation the Federal Reserve could adopt a more hawkish posture; benchmark 10-year Treasury yields declined 1.41 basis points to 4.493% as investors sought safety. A Bank of Japan summary released Wednesday revealed some board members called for further rate hikes after the central bank raised its policy rate to a 31-year high of 1.00% this month. The yen remained pinned near 40-year lows at 161.57 per dollar, keeping intervention watch on high alert. Oil prices extended losses to trade near four-month lows on signs stranded Gulf tankers were preparing to exit the Strait of Hormuz, though conflicting US-Iran accounts on nuclear inspections and strait control clouded the accord's durability. Spot gold fell 0.48% to $4,088.71 an ounce. Bitcoin gained 0.84% to $62,914.94 and Ethereum rose 0.43% to $1,669.35.