Singapore:  Asian stock markets declined for the second consecutive day on Thursday, pressured by disappointing earnings from major U.S. technology companies and renewed geopolitical concerns.

The MSCI Asia-Pacific index excluding Japan fell 0.3%, while Japan's Nikkei 225 dropped 1.5%. In Hong Kong, stocks declined 0.4% following reports that the U.S. government is considering new export restrictions targeting software sales to China. This move is seen as a response to Beijing's recent limitations on rare earth exports, escalating tensions between the two nations.

South Korea's market edged down 0.2% after the Bank of Korea kept interest rates unchanged, signaling a cautious approach amid global uncertainties.

Global markets are also grappling with underwhelming earnings from tech giants like Netflix, Tesla, and Apple, which have fallen short of investor expectations. These results have dampened sentiment in the technology sector, contributing to the broader market selloff.

Adding to the pressure, U.S. President Donald Trump imposed new sanctions on Russian companies over the ongoing conflict in Ukraine. This led to a surge in Brent crude oil prices to $64 per barrel, as the European Union also announced sanctions on Russian liquefied natural gas imports.

Despite these challenges, U.S. Treasury yields remained stable, and markets largely anticipate a Federal Reserve rate cut at the upcoming meeting. Gold prices slipped 0.6% as investors booked profits ahead of key U.S. inflation data.

As global markets navigate these turbulent waters, investors are closely monitoring developments in U.S.-China relations and corporate earnings reports for further signals on economic health and market direction.