<div id="readability-page-1" class="page"><div> (RTTNews) - Asian stocks retreated on Thursday as investors pulled back from technology and semiconductor shares following a weak forecast from U.S. chipmaker Broadcom. Also, ongoing tensions between Washington and Tehran kept oil prices elevated, raising concerns about inflation and interest rates. The dollar consolidated recent gains to hover near a two-month high, driven by escalating Middle East tensions after attacks on Kuwait damaged its airport and injured dozens. Gold traded higher at $4,460 an ounce while Brent crude futures fell toward $97 a barrel, snapping a three-day rally after Israel and Lebanon agreed to implement a ceasefire. China's Shanghai Composite index dipped 0.64 percent to 4,057.78 as Middle East tensions flared, threatening a fragile ceasefire and heightening risks to global growth. Hong Kong's Hang Seng index fell 1.48 percent to 25,253.40. Japanese markets fell sharply while the yen wobbled near the 160-per-dollar level after Bank of Japan Governor Kazuo Ueda indicated a good chance of an interest rate hike this month and Prime Minister Sanae Takaichi warned of intervention in the foreign exchange market at any time. The Nikkei average tumbled 1.36 percent to 67,470.69 after reaching a record high in the previous session. The broader Topix index settled 1.11 percent lower at 3,951.85. Seoul stocks slumped as trading resumed following a public holiday. The Kospi index fell 1.84 percent to 8,639.41, snapping a three-day losing streak due to heavy selling by foreign investors. Samsung Electronics, SK Hynix and Hyundai Motor lost 3-4 percent. Australian markets fell to a one-week low, with investor sentiment dented by the escalating Israel-Lebanon conflict. Amid persistent geopolitical tensions and rate hike worries, investors ignored positive trade balance and consumer confidence readings. The benchmark S&amp;P/ASX 200 ended down 1.13 percent at 8,686.10, dragged down by heavyweight banks and miners. The broader All Ordinaries index dropped 1.11 percent to 8,916.90. Shares of Treasury Wine Estates soared 13.1 percent after the company unveiled a sweeping transformation plan in order to become &#34;a simpler and more focused luxury wine business.&#34; Across the Tasman, New Zealand's benchmark S&amp;P/NZX-50 index slid 0.10 percent to 13,101.61, extending losses from the previous session and hitting its lowest level since May 25. U.S. stocks ended lower overnight, with the latest skirmish between the U.S. and Iran, concerns over stretched valuations and shifting monetary policy expectations leading to profit taking after strong gains over the past week. The U.S. and Iran exchanged strikes, and the Gulf region witnessed a surge in hostilities, raising concerns about the durability of a fragile ceasefire. Upbeat economic data helped limit overall losses to some extent, with the services sector expanding at an accelerating pace and private payrolls increasing more than expected in May. The Fed's Beige Book report found that U.S. businesses endured another month of energy-driven price increases amid the Iran conflict. The S&amp;P 500 dropped 0.7 percent to snap a nine-day winning streak, while the Dow gave up 1.2 percent and the tech-heavy Nasdaq Composite declined 0.9 percent. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. </div></div>

Asian stocks retreated on Thursday, driven by Broadcom's weak forecast and escalating Middle East tensions. Major indices fell: Nikkei down 1.36%, Hang Seng down 1.48%, Kospi down 1.84%, and ASX 200 down 1.13%. Geopolitical risks kept oil prices elevated and boosted gold to $4,460/oz. The yen weakened near 160 per dollar amid BOJ rate hike expectations. U.S. markets also declined overnight as profit-taking followed recent gains.

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Asian Shares Slide As Tech Stocks Pullback On Broadcom Earnings