Asian equity markets slipped Thursday as the recent surge in technology shares lost steam. Investors weighed mixed earnings from U.S. mega‑cap firms and the Federal Reserve’s decision to keep policy rates unchanged. Asia stocks, tech rally, and Fed pause all featured in the subdued trading tone.

Meta Platforms posted a post‑market rally after issuing an upbeat revenue outlook, while Tesla beat forecasts, giving a brief lift to growth stocks. Microsoft’s shares fell, citing rising AI‑related costs, which dampened sentiment across the region. Chip leaders Samsung Electronics and SK Hynix posted strong results but saw gains erased as broader weakness set in.

The Fed’s hold on rates, announced Wednesday, kept monetary policy on pause while Chair Jerome Powell warned that inflation must move sustainably toward 2% before any easing. CME’s FedWatch tool still prices two more cuts later this year. Japan’s Nikkei slipped 0.2%, Hong Kong’s Hang Seng fell 0.2%, and the CSI 300 stayed flat, signaling investors will watch upcoming earnings for direction.