Asia markets edge lower after Wall Street tech sell-off

February 4, 2026 (MLN): Asian markets mostly declined on Wednesday, tracked overnight losses on Wall Street after a sell-off in U.S. technology stocks pressured global markets.

Meanwhile, gold prices extended gains for a second straight session.

Japan’s Nikkei 225 fell 1.2%, dragged lower by weakness in technology shares.

Chip equipment maker Lasertec slumped 7%, while Konami Group dropped 5.8%, according to CNBC.

Semiconductor equipment giant Tokyo Electron also lost 3.2%. The broader Topix index declined 0.39%.

Australian stocks moved higher, with the S&P/ASX 200 reversing earlier losses to close 0.45% higher.

In South Korea, the Kospi gained 0.4%, while the small-cap Kosdaq advanced 1.01%.

Shares of Nintendo fell more than 9%, despite the company maintaining its full-year sales forecast for the Switch 2 console.

Investors weighed potential risks for the gaming firm, including the impact of a sharp rise in memory prices, a key input for its consoles.

Hong Kong’s Hang Seng Index slipped 0.1%, while China’s CSI 300 declined 0.28%.

In commodities, spot gold rose more than 1% to $5,002 per ounce, while spot silver gained 0.69% to $85.70 per ounce.

Overnight in the United States, Wall Street ended lower as investors sold technology stocks and rotated into other sectors.

The S&P 500 fell 0.84% to 6,917.81, while the Dow Jones Industrial Average declined 166.67 points, or 0.34%, to 49,240.99, after earlier touching a record high of 49,653.13.

The Nasdaq Composite dropped 1.43% to 23,255.19.

Most technology shares closed in negative territory.

Microsoft and Meta Platforms fell more than 2%, Apple ended slightly lower, and Nvidia slid nearly 3%.

Software stocks continued to weaken, with ServiceNow and Salesforce each dropping close to 7%.

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