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Asian stock markets declined sharply on Wednesday as investors pulled back from technology and semiconductor stocks ahead of Nvidia’s highly anticipated quarterly earnings report. The cautious mood followed another weak session on Wall Street, where major U.S. indexes closed lower for a third consecutive day amid growing concerns over elevated valuations in the artificial intelligence sector.
Japan’s Nikkei 225 dropped 1.5%, while the broader TOPIX index lost 1.7% as technology stocks faced heavy selling pressure. South Korea’s KOSPI index led regional losses, falling more than 2.5%. Samsung Electronics shares erased earlier gains and slid over 4% after wage negotiations between the company and its labor union reportedly collapsed. According to Yonhap News Agency, the union plans to begin a strike on Thursday, May 21, increasing uncertainty around the tech giant’s operations.
Investor sentiment remained fragile as rising global bond yields continued to pressure growth and semiconductor stocks that previously fueled the AI-driven market rally in 2026. Market participants are closely watching Nvidia’s earnings release for insight into future artificial intelligence spending trends, with some analysts warning that expectations for AI-related stocks may have become overly optimistic after strong gains earlier this year.
Oil prices also stayed elevated above $110 per barrel despite a slight pullback after U.S. President Donald Trump announced a delay in a planned military strike on Iran. However, Trump warned that military action remains possible if diplomatic negotiations fail, keeping geopolitical risks and inflation concerns in focus for global investors.
In China, the People’s Bank of China kept its benchmark loan prime rates unchanged for the twelfth consecutive month. The one-year LPR remained at 3.00%, while the five-year LPR stayed at 3.50%, matching market forecasts. Chinese equities continued to weaken as investors worried about sluggish domestic demand and ongoing problems in the property sector. The Shanghai Composite slipped 0.5%, while Hong Kong’s Hang Seng Index fell 1.1%.
Elsewhere in Asia, Australia’s ASX 200 dropped 1.2%, Singapore’s Straits Times Index lost 0.8%, and India’s Nifty 50 futures declined 0.5% as investors awaited the latest Federal Reserve meeting minutes for clues on future U.S. interest rate policy.
