Asian stocks mostly decline on a sell-off of chip shares

Asian stocks declined due to a sell-off in chip shares, with South Korea's Kospi falling 5.1% and major chipmakers like SK Hynix and Samsung Electronics losing significant value. U.S. chip stocks also dropped, and oil prices fell amid hopes for improved crude supplies following Iran war negotiations. Concerns about an AI-driven supply glut and slower-than-expected adoption barriers weighed on investor sentiment.