Market Overview - Asian stocks experienced a decline for the second consecutive day, influenced by disappointing earnings from major tech companies and renewed geopolitical concerns due to U.S. sanctions against Russia and potential export controls on China [1][2][3] - The MSCI index for Asia-Pacific shares outside Japan fell by 0.4%, while Japan's Nikkei 225 index dropped by 1.5% [1] Geopolitical Impact - U.S. sanctions targeting Russian companies Rosneft and Lukoil led to a 3% surge in oil prices, with Brent crude reaching $64.41 per barrel [1][5] - The sanctions are expected to negatively impact Asian economies, which are primarily net energy importers, potentially inhibiting growth and contributing to inflation [6] Sector Performance - Chinese stocks fell by as much as 1.1% amid concerns over potential U.S. software export restrictions to China, which are seen as a retaliation against China's rare earth export limitations [2][3] - South Korean stocks declined by 0.7%, particularly affecting tech hardware manufacturers, while the Bank of Korea maintained interest rates as anticipated [4] Corporate Earnings - The global equity markets are retreating from record highs as the corporate earnings season begins, with many companies reporting results that beat analysts' estimates despite some megacaps disappointing investors [3]