Asian stocks slide as China prompts chip competition fears

Stock indexes were down in morning trade across major Asian markets on July 28, following declines on Wall Street and fears over stiffer Chinese competition. (Photo by Kazuho Fujiwara)

TOKYO -- South Korean and Japanese stocks are down sharply Tuesday morning, following a sell-off in tech stocks overnight on Wall Street brought on by concerns about the cost of large-scale investments and the rise of Chinese chipmakers.