British News Agency

Shares of AI companies such as Oracle and Broadcom fell more than 5% and more than 2%, respectively, while Microsoft also posted some losses.

In Asia, South Korea’s Kospi Index led regional losses for a second straight day, dropping 1.78%, while the small-cap Kosdaq Index slid 2.12%.

Korea Zinc shares fell as much as 11.24% after reports said the company agreed to sell $1.9 billion worth of shares to a joint venture controlled by the U.S. government and unnamed U.S.-based strategic investors.

Medical treatment company ADEL said late Monday that it signed a $1.04 billion drug development deal with French pharmaceutical giant Sanofi.

Japan’s Nikkei 225 fell 1.27% on the back of basic materials and real estate stocks, while the Topix dropped 1.32%. Japan’s preliminary composite purchasing managers’ index (PMI) showed weaker growth in December at 51.5, compared with 52 the previous month.

Hong Kong’s Hang Seng Index fell 1.47% due to basic materials and energy stocks, while mainland China’s CSI 300 slipped 0.92%. Australia’s S&P/ASX 200 reversed earlier gains and lost 0.29%.

Preliminary PMI figures from S&P Global showed that business activity in Australia expanded at a slower pace in December, with the composite PMI falling to 51.1 from 52.6 in November.

In the U.S., the S&P 500 fell 0.16% after starting the session on a positive note. The Dow Jones Industrial Average edged lower, while the tech-heavy Nasdaq Composite lost 0.59%.