Morning Bid: Tech that - Nvidia slump sours market mood

The wave of profit-taking in U.S. Big Tech and AI stocks appears to be gathering momentum, which could depress investor sentiment and risk appetite in Asia on Tuesday even if it is offset by a rotation into cheaper, beaten down sectors.

The market tone across Asia on Tuesday could be set by the tempest brewing in tech. Nvidia shares slumped 6.7% on Monday, bringing their decline in the last three days to 16%, and weighing heavily on semiconductor and tech shares more broadly. Back in the macro world, minutes of the Bank of Japan's last meeting on Monday showed that Japanese policymakers discussed a near-term interest rate hike, with one calling for an increase "without too much delay" to help get inflation back down.Currency traders, however, seem unimpressed.

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