Asia-Pacific markets fell Monday, after Wall Street declined Friday stateside as investors took a breather from the AI trade.
"[Friday] is a value-outperforms-growth day," said Jed Ellerbroek, portfolio manager at Argent Capital Management. "Investors are definitely skittish as it relates to AI â not outright pessimistic, but just kind of, I think, cautious and nervous and hesitant."
Traders in Asia will also look toward key data from Japan and China, with China releasing its retail sales, fixed asset investment and industrial output numbers for November.
Japan will announce its fourth-quarter Tankan numbers. The Tankan survey, conducted by the Bank of Japan, measures business sentiment among companies in the world's fourth largest economy.
Australia's S&P/ASX 200 started the day down 0.66%. On Sunday, the country suffered its worst gun attack in over 30 years that left at least 15 dead.
Japan's Nikkei 225 slid 1.3%, while the Topix declined 0.27%. South Korea's Kospi fell 2.16% while the small-cap Kosdaq was 1.17% lower.
Hong Kong's Hang Seng index futures were at 25,735, lower than the HSI's last close of 25,976.79.
On Friday in the U.S., the S&P 500 fell 1.07%, retreating from a record, and the Nasdaq Composite declined 1.69%. The Dow Jones Industrial Average finished down 0.51% after scoring a new intraday all-time high earlier in the session.Â
AI-related stocks faced pressure during the session, with stocks of Broadcom plunging more than 11%, and dragging the broad market index and tech-heavy Nasdaq. AMD, Palantir Technologies and Micron also declined.
âCNBC's Sean Conlon and Pia Singh contributed to this report.