Asian markets traded in mixed territory as investors digested a series of factors influencing sentiment. Chinese tech stocks have faced a sharp decline due to concerns about domestic macroeconomic conditions and rising geopolitical tensions, with both the HSTech Index and Nasdaq Golden Dragon China Index down 14% and 17% respectively from last month's highs. Investors are now looking to key earnings reports from Tencent and Alibaba to gauge the impact of business streamlining efforts, and whether consumer spending will recover with potential Beijing stimulus.

• Japanese equities are higher this morning led by financial and domestic demand-related firms, buoyed by expectations of government stimulus. The Topix Index is 0.7% higher, with support from Recruit Holdings, which climbed 7.2%. However, the lackluster earnings season has limited the market’s upside, and weakness in US tech stocks has weighed on Japanese technology-related shares, the Nikkei is underperforming the TOPIX today, and trades just 0.35% higher.
• South Korea’s Kospi is trading 0.50% lower, marking a third straight session of losses, driven by foreign and local fund selling, while retail investors stepped in to buy. Small-cap Kosdaq is 1.20% lower, although has recovered somewhat from earlier losses. Taiwan's TAIEX is trading 1.40% lower, largely due to a 2.30% drop from TSMC following a 2.54% fall in the Philadelphia SE Semiconductor Index overnight.
• Australia's ASX 200 is 0.4% lower, primarily impacted by declines in gold miners as bullion prices retreated following volatility in the US. Meanwhile, Australian consumer confidence rose in November, as households appeared less worried about future interest rate hikes.