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Stocks fell Thursday as investors profited from Asian tech stocks, while the minutes of the U.S. central bank highlighted uncertainty about the speed and timing of further lowering interest rates.
Hong Kong’s Hang Seng Tech index, the benchmark for the largest technology company in the territory, fell 3.6% on Thursday before returning to a 2.2% drop.
Japan’s Topix fell 1.2%, while mainland China’s CSI 300 retreated 0.4%.
Analysts say the waterfall partially reflects profitability after advances in artificial intelligence startup DeepSeek.
The Hang Seng Tech index has grown by 28% so far, well ahead of the 4% growth of the U.S. Nasdaq Comprehensive Comprehensive until Wednesday.
“China is seeing Big Towns,” said Xin-yao Ng, director of equity investment at ABRDN. “It’s mainly about technology profitability. It’s a very narrow technology rally, [we’re] Now see some caution. ”
Analysts say tech investors recovered their returns ahead of results from companies such as Alibaba, jd.com and trip.com.
“This week, we have several large internet companies reporting results. Investors will listen very carefully to understand that management provides a clearer message to the AI vision.
The waterfall also comes after minutes released by the Federal Reserve at its January-set meeting, officials said they hope to see “further inflation progress” before cutting tax rates.
The longer the U.S. interest rates can reduce the net shortage of other central banks to lower interest rates to stimulate their economy. It also supports the US dollar, thereby absorbing capital from the rest of the world.
The S&P 500 rose 0.2% on Wednesday, while the Nasdaq Composite was flat.
Asian markets have also declined amid concerns about further export responsibilities. Trump said on Tuesday he plans to impose tariffs on U.S. cars, semiconductors and drugs.
“There is constant concern for tariffs[from President Trump]. . . and [rates] Since the Asian Central Bank has no room to lower interest rates, it has been overhanging. ” said Abrdn’s Ng.
The yen rose 0.6% against the dollar, making it the best performing major currency on Thursday.
The Koreans won the victory, and the Singapore dollar also strengthened its 0.3% and 0.2% stake, respectively.
