Asian markets retreat as US weighs new trade curbs on China

A woman walks past an electronic screen displaying the stock index prices of Asian countries outside a brokerage in Tokyo, Japan April 24, 2025. REUTERS/Issei Kato

SINGAPORE: Asian stocks fell for a second day on Thursday as lacklustre earnings from tech megacaps deepened a selloff on Wall Street, while U.S. sanctions against Russia and possible new export controls on China revived geopolitical worries.

Oil prices surged 3% after the U.S. imposed sanctions on major Russian companies Rosneft and Lukoil over the Ukraine war.