Asian stocks fell Monday after a U.S. chip selloff, while crude climbed on Libya supply fears. Indian benchmarks were flat, with energy gains offsetting tech weakness.
Asian equities opened lower Monday, tracking a selloff in U.S. semiconductor shares that dragged the broader tech sector. The drop followed a sharp decline in Nvidia and other chipmakers late last week, with investors citing profit-taking after a months-long rally. Japan's Nikkei fell more than 1%, while South Korea's Kospi slipped 0.8%.
Crude oil rose, with Brent futures climbing toward $82 a barrel. Traders pointed to fresh supply concerns after Libya's eastern government said it would shut oil production and exports amid a political standoff. The move threatens to remove roughly 1.2 million barrels a day from global markets.
In India, the Sensex and Nifty opened flat, with gains in energy and banking stocks offsetting weakness in technology shares. HDFC Bank edged higher, while Infosys and Wipro slipped. The broader market took cues from the global tech selloff, though domestic institutional buying provided some support.
The rupee opened little changed against the dollar, with traders watching for any intervention by the Reserve Bank of India after the currency touched a fresh low last week.
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