Asian equity markets opened unevenly as the global tech rally cooled, reflecting losses on Wall Street. KOSPI surged to a record high, buoyed by strong earnings from Korean conglomerates. Meanwhile, other regional indices slipped, weighed by rising U.S. Treasury yields in the first quarter today.

Following a sharp rally that lifted valuations across the region, U.S. rate hikes have tightened risk appetite. Investors now weigh the impact of higher borrowing costs on growth prospects, especially for technology and consumer discretionary stocks that dominated the earlier surge in the last week.

KOSPI's record level signals resilience in South Korea's market, yet the broader mix signals caution for portfolio managers. The index's jump may attract short‑term capital, but sustained gains will depend on corporate earnings and global liquidity conditions as investors monitor U.S. policy and commodity prices.

Analysts will watch Fed minutes and corporate earnings releases for clues on the trajectory of risk sentiment. Market participants also track geopolitical developments in the region, as any escalation could dampen the current upside and shift investor focus back to defensive sectors in the coming weeks for analysis.