Asian stocks start week on back foot, tracking tech-led Wall St losses

The losses in Asia tracked a tech-led selloff in New York on Friday (LEE HOON-KOO) Asian stocks mostly fell Monday as traders tracked a tech-heavy selloff on Wall Street that was fuelled by growing worries over the AI investment boom. Chipmakers and other firms linked to artificial intelligence were once again under pressure owing to concerns about surging inflation, rising costs and questions about when the vast sums pumped into the sector in recent years would see a return. Last week saw wild swings that ended on a largely positive note on Friday, though investors remain on edge heading into a crucial earnings season that sees tech titans Tesla and Meta report this week.