Asian Stocks Drop After Wall Street Tech Retreat

Nikkei, Kospi, Hang Seng all see declines as U.S. futures edge higher and oil prices fall.

Published on Feb. 5, 2026

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Asian shares slipped on Thursday after technology stocks weighed on Wall Street, leading to drops in major indexes like the Nikkei 225, Kospi, and Hang Seng. U.S. futures edged higher, while oil prices fell more than $1 per barrel. The S&P 500 fell 0.5% for its fifth modest loss in the last six days, with technology stocks like Advanced Micro Devices and Uber Technologies dragging down the index.

Why it matters

The decline in Asian stocks, particularly in the technology sector, reflects broader concerns about the performance of tech companies and the potential impact on global markets. Investors are closely watching for signs of economic slowdown and the effects of factors like inflation and interest rate hikes.

The details

Tokyo's Nikkei 225 shed 0.7% to 53,935.77, while the Kospi in South Korea skidded 3.2%, to 5,199.47. Chinese markets also retreated, with Hong Kong's Hang Seng falling 1.2% to 26,516.38 and the Shanghai Composite index giving up 0.8% to 4,069.27. The S&P 500 fell 0.5% for its fifth modest loss in the last six days, closing at 6,882.72. The Nasdaq composite sank 1.5% to 22,904.58, with technology stocks like Advanced Micro Devices and Uber Technologies weighing on the index.

  • On Wednesday, the S&P 500 fell 0.5% for its fifth modest loss in the last six days.

The players

Advanced Micro Devices

A chip company that reported stronger-than-expected profits for the latest quarter but saw its stock drop 17.3%.

Uber Technologies

A ride-hailing company that reported results for the latest quarter that fell short of analysts' expectations and saw its stock fall 5.1%.

Super Micro Computer

A company that sells AI servers and other equipment, and saw its stock rise 13.8% after delivering stronger-than-expected profits for the latest quarter.

Eli Lilly

A pharmaceutical company that rallied 10.3% after topping analysts' expectations for profit in the latest quarter, driven by growth in its Mounjaro and Zepbound products for diabetes and weight loss.

Match Group

A company that climbed 5.9% after reporting better results than analysts expected and increasing its dividend.

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What they’re saying

“We must not let individuals continue to damage private property in San Francisco.”

— Robert Jenkins, San Francisco resident (San Francisco Chronicle)

The takeaway

The decline in Asian stocks, particularly in the technology sector, reflects broader concerns about the performance of tech companies and the potential impact on global markets. Investors are closely watching for signs of economic slowdown and the effects of factors like inflation and interest rate hikes.