The Nikkei plunged by almost 7% from the record high reached on Tuesday, while South Korean shares dropped by 6.2%. Both markets clawed back some losses in afternoon trading.

The energy subsidies are part of China’s larger push to subsidise its AI and semiconductor industries. Its outlay for AI alone is expected to reach $98 billion this year.

America's top court will hear the fight against Trump's tariffs this week; an adverse ruling could be messy, but analysts say he would just use other avenues to achieve the same goal

US President's comments suggest he may impose tighter restrictions on cutting-edge American AI chips than US officials previously indicated

Dutch chipmaker suspends supplies of wafers to its Guangdong assembly plant amid concern its technology could be stolen by its Chinese owner. The row has inflamed fears on the supply of chips to carmakers worldwide

Samsung's earnings have recovered and it's now in 'close discussion' with Nvidia on HBM4 – the next-generation of high-bandwidth memory chips

Trump says 'amazing' Busan summit rated 12 out of 10. The two sides agreed to lift agricultural trade, pause port fees and deal with issues in the US TikTok sale

Tariff deal nearly finalized, Trump says, with $350bn worth of investment in US to be split into bundles, plus extensive help to reinvigorate US shipbuilding

Nvidia is set to become the first company with a market cap of $5 trillion after its shares jumped in pre-market trading on Wednesday following the announcement of two new deals

Two Asian markets hit record levels on Monday, while Chinese stocks roseto their highest in over a decade amid optimism of a US-China trade deal

China's next 5-year plan focuses on innovation and industrial upgrades. Policymakers also want to raise household consumption, but they refused to put a figure on that

The news spotlight will focus on Malaysia this weekend, for the latest tariff talks, another episode of 'Trump the Peacemaker' and key issues for Southeast Asian nations and global heavyweights