Asia stocks slide on tech losses; KOSPI sinks as Samsung union plans strike

Asian stocks fell in broad-based selling on Wednesday, with technology shares tracking overnight losses on Wall Street as investors turned cautious ahead of chip giant Nvidia’s quarterly earnings later in the day.

Wall Street’s main indexes ended lower for a third straight session on Tuesday, with technology and semiconductor shares leading declines.

U.S. stock futures were little changed during Asian hours.

KOSPI leads losses after Samsung talks with union fall apart

Japan’s Nikkei 225 fell 1.5%, while the broader TOPIX index slipped 1.7%.

South Korea’s KOSPI dropped more than 2.5%. Samsung stock reversed early gains and fell more than 4% after the company said negotiations with the union broke down due to unresolved gaps on a few remaining issues.

Yonhap news agency reported that the Samsung union said it will go on strike starting Thursday, May 21, as planned.

Higher global bond yields weighed heavily on growth and technology stocks, particularly semiconductor companies that had driven much of this year’s artificial intelligence-led rally.

Investors are now awaiting Nvidia’s first-quarter earnings report — later on Wednesday — for fresh clues on the sustainability of AI spending momentum. Some investors worry expectations have become stretched after the stock’s sharp rally this year.

Oil prices remained elevated above $110 per barrel despite easing slightly after U.S. President Donald Trump said Washington had postponed a planned military strike on Iran.