Asian markets slide as reports of U.S. software export curbs hit sentiment

Asian equities declined on October 23 2025, with Japan’s Nikkei 225 down 1.5% and MSCI Asia ex-Japan off 0.3%, after reports suggested the U.S. may tighten software export controls targeting China. Tech and semiconductor stocks led losses, while rising oil prices added pressure. Investors turned defensive amid renewed geopolitical tensions and weaker earnings from major chipmakers. Analysts expect short-term volatility across Asia, though India’s strong domestic inflows could cushion spillover risks from regional weakness.