Asian equities declined on Monday as major technology shares tumbled following disappointing corporate announcements. The MSCI Asia Pacific index fell roughly 1 percent, with the Kospi down about 3 percent and the Hang Seng shedding nearly 2 percent.
Samsung shares plunged nearly 9 percent in Seoul after investors reacted negatively to the company's plan to return approximately 110 trillion won to shareholders. Alibaba fell more than 9 percent after announcing a share sale to fund artificial intelligence investments, while SoftBank dropped over 5 percent in Tokyo on plans for a record 1 trillion yen debt issuance.
Australia's S&P/ASX 200 bucked the regional trend with a 0.49 percent gain. Markets are looking ahead to the Federal Reserve's annual Jackson Hole symposium, which begins Thursday.