Asia markets slide on renewed AI valuation fears

November 19, 2025 (MLN): Asia markets slipped on Wednesday, mirroring an overnight sell-off on Wall Street as renewed concerns over stretched artificial intelligence (AI) valuations weighed heavily on global technology stocks.

Japan’s Nikkei 225 dipped 0.2% in choppy trade, while the Topix hovered near the flatline. Tech shares were the major drag, with semiconductor testing giant Advantest plunging more than 4% in early hours before trimming losses to trade 0.88% lower.

Chipmaker Renesas Electronics remained under pressure, falling 4.4%.

South Korea also saw broad weakness. The Kospi dropped 0.54%, and the tech-focused Kosdaq slid 0.58%.

Market heavyweights Samsung Electronics and SK Hynix pared some of their earlier losses but still traded 0.51% and 0.79% lower, respectively.

Australia’s S&P/ASX 200 slipped 0.13% amid volatile moves, while Hong Kong’s Hang Seng Index fell 0.45%. In contrast, China’s CSI 300 inched up 0.21%, providing a rare bright spot in the region.

Hong Kong-listed shares of Xiaomi sank over 4% after the Chinese smartphone maker cautioned that rising memory chip costs driven by soaring AI demand could force higher handset prices in 2026.

India’s benchmarks also opened softer, with the Nifty 50 down 0.16% and the Sensex slipping 0.14% at the start of trade.

In early Asian hours, U.S. equity futures were little moved after Wall Street logged another downbeat session. Overnight in the U.S., the Dow Jones Industrial Average fell 498.50 points (1.07%) to close at 46,091.74, marking its fourth straight decline.

The S&P 500 dropped 0.83% to 6,617.32, extending its longest losing streak since August, while the Nasdaq Composite shed 1.21% to finish at 22,432.85, posting its fifth loss in six sessions.

The broader risk-off mood also spilled into crypto markets, with Bitcoin briefly slipping below $90,000, signaling reduced investor appetite for high-risk assets.

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