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The Nasdaq faced renewed bearish pressure in the Asian session as it failed to hold the critical 30,000 level, retreating below 29,840 and approaching support at 29,715-29,700. Analysts at investingLive.com highlighted that sellers currently control the index below 29,840-29,950, but warned against aggressive shorting near immediate support zones. The decline follows broader tech sector weakness in Asia, including sharp drops in South Korea’s KOSPI and Japan’s Nikkei, despite Samsung Electronics reporting a 19-fold profit surge. Market participants are questioning if the AI-driven chip rally is losing momentum or already priced in.
This development impacts US equity traders, particularly those with exposure to tech-heavy assets. The Nasdaq’s sensitivity to global semiconductor sentiment and geopolitical risks makes it vulnerable to further declines if Asian markets continue to underperform. A sustained recovery above 30,000 would signal bullish momentum, but current conditions favor caution. Traders should monitor key levels like 29,840 (defensive support) and 29,715 (next support) for potential reversals.
For Gulf investors, the Nasdaq’s performance could influence regional tech-related ETFs and cross-listed assets. The broader market context—geopolitical tensions and shifting investor sentiment toward tech—requires close attention. Key watchpoints include Samsung’s stock behavior, US Federal Reserve policy signals, and AI sector earnings reports in the coming weeks.
