BEIJING, Oct 8 — Asian stocks ended mostly lower on Thursday as technology stocks retreated on concerns over a surge in corporate debt linked to artificial intelligence, reported German Press Agency (dpa).
Concerns over rising bond yields and the outlook for monetary policy also weighed on markets as oil prices remained elevated in the wake of supply disruptions linked to the Iran conflict and attacks by Yemen’s Iran-backed Houthis on Saudi Arabia.
Gold edged up 0.3 per cent to US$4,124 an ounce as the dollar pulled back from an 18-month high in subdued trading.
Brent crude prices jumped nearly four per cent towards US$104 a barrel, reversing losses from the previous session after reports suggested that the White House had asked the Pentagon to develop options to strike Iran before the midterm elections, but no final decision had been made.
On Wednesday, oil prices rose on fresh concerns about West Asia supplies before falling after the International Energy Agency agreed to speed up a planned release of oil stocks and prioritise diesel in a bid to curb record-high fuel prices.
Seven commodity vessels passed through the Strait of Hormuz on Tuesday, the lowest figure since July 23, after attacks in the key waterway reached their highest level last week since the start of the US-Israeli war with Iran, according to data from analytics firm Kpler.
The US State Department urged US citizens to exercise heightened vigilance after Houthi strikes on two Saudi airports killed three people and injured 36.
Mainland Chinese markets ended notably lower as trading resumed after the National Day Golden Week closure. The benchmark Shanghai Composite Index fell 0.79 per cent to 3,811.90 amid renewed US-China tensions over trade and technology restrictions.
Analysts said a US plan to prevent Chinese laboratories from testing electronic devices for use in the American market could disrupt a key link in the global electronics supply chain.
Hong Kong’s Hang Seng Index slumped 1.43 per cent to 23,785.79.
Japanese markets ended lower for a second consecutive session as oil prices surged amid renewed West Asia supply concerns. The Nikkei average fell 1.42 per cent to 69,042.11, while the broader Topix Index settled 1.51 per cent lower at 4,091.46.
Banking and semiconductor stocks succumbed to heavy selling pressure, with Japanese lender Mitsubishi UFJ Financial dropping 3.3 per cent and technology investor SoftBank Group plummeting 4.3 per cent.
Seoul stocks fell for a third consecutive session on inflation and interest-rate worries. The Kospi Index tumbled 2.62 per cent to 6,625.93.
Shares of South Korean electronics giant Samsung Electronics fell 2.4 per cent despite the company posting a record profit, driven by surging memory-chip prices and relentless spending on artificial-intelligence infrastructure.
Australian markets ended lower, with banks and technology stocks coming under selling pressure on bond-market woes. The benchmark S&P/ASX 200 fell 0.77 per cent to 8,660.90, while the broader All Ordinaries Index closed 0.8 per cent lower at 8,823.20.
New Zealand’s benchmark S&P/NZX-50 Index finished marginally higher at 13,691.85, halting declines from the previous session.
US stocks climbed well off their lows but still ended firmly in the red overnight as oil prices fluctuated and yields on government bonds climbed to 24-year highs before pulling back in the wake of a strong US$39 billion auction of 10-year Treasury notes.
The technology-heavy Nasdaq Composite and the S&P 500 both slid by 0.2 per cent, while the narrower Dow Jones Industrial Average gave up 0.7 per cent as minutes of the Federal Reserve’s September 15-16 meeting signalled another interest rate hike would likely be appropriate before year-end, depending on incoming information, the economic outlook and the balance of risks.
In economic releases, new data highlighted the impact of rising borrowing costs in the housing sector. — Bernama-dpa
Date: 8 October, 2026 6:40 pm
Source: Malay Mail
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