Asian tech shares fall, Iran deal talks

Asian shares fell on Thursday, August 6, 2026, after an AI-driven surge the previous day, led by declines in tech firms. MSCI's broadest index of Asia-Pacific shares outside Japan dropped 0.69%, with South Korean shares down 3.64% and Japan's Nikkei losing 1.57%. Major tech stocks declined: Samsung Electronics fell 2.44%, SK Hynix lost 6.95%, Kioxia plunged 9.61%, and Tokyo Electron slumped 4.61%. The pullback followed a weaker Wall Street session where the Nasdaq snapped a winning streak as SpaceX and AMD stumbled after quarterly earnings. SpaceX highlighted faster-than-expected returns from AI spending, but investors worried about Starlink's ability to fund data center investments. AMD's results beat estimates but fell short of lofty expectations. Meanwhile, oil prices traded in a tight range around $70 a barrel as markets assessed prospects for an Iran peace deal. According to a senior Iranian source and two regional officials, a proposed deal between Iran and Oman to end five months of war between Iran and the United States would give Tehran control over ships entering the Gulf through the Strait of Hormuz. Brent crude fell to $79.31 per barrel, and WTI edged down to $74.96. Analysts at Commonwealth Bank suggested a deal could be reached by early September but remained skeptical. Investors also focused on upcoming US labor market data, with ADP showing 44,000 private jobs added in July, below expectations. Futures markets priced a 54% chance of a United States — Federal Reserve rate hike in September. The dollar was steady against the yen at 157.66 following a rare joint yen-buying intervention by Japan and the US last week. Gold rose 1.06% to $4,290.26 an ounce, and silver gained 0.65% to $62.48.