Asian markets fall as Seoul tech sell-off resumes

Asian stock markets mostly fell Thursday, with South Korea's Kospi closing down 1.2% at 5,593.56 as selling in major chipmakers resumed despite an early rebound.

The Kospi had risen as much as 5% in morning trading after losing about 15% over the previous two sessions. SK hynix fell more than 5% by the close, leaving it about 25% lower since Monday's close, while Samsung Electronics ended slightly lower.

The renewed selling came after investors questioned the scale of spending on artificial intelligence and the timing of possible returns. Samsung had reported a 1,813% jump in second-quarter operating profit, with revenue up 130% and net profit up 1,300%. South Korea's Yonhap news agency said the results met expectations, citing its own financial data firm.

South Korea's finance ministry said the government would introduce measures to curb retail traders' access to leveraged exchange-traded funds, including limits on individual investment. The ministry said officials agreed that concentrated trading in single-stock leveraged products had contributed to market volatility.

Elsewhere in Asia, markets fell in Shanghai, Sydney, Singapore, Taipei, Wellington, Bangkok and Manila. Tokyo, Hong Kong, Mumbai and Jakarta edged up. London and Paris rose in early European trading, while Frankfurt edged down.

Oil prices also rose again amid renewed Middle East tensions. Around 0810 GMT, West Texas Intermediate was up 1.5% at $85.71 a barrel and Brent North Sea crude was up 2.1% at $92.67.

Investors were also weighing uncertainty over US interest rates after Federal Reserve officials kept rates unchanged, while three policymakers dissented and called for a hike. IG analyst Fabien Yip said the dissent was unsettling investors because it raised questions about whether the Fed could keep long-term inflation expectations anchored.