Asian equity markets declined on July 29, led by a 5 percent drop in South Korea's KOSPI after a prior 10 percent decline, while SK Hynix shares fell 9 percent despite a sixfold profit increase and the broader MSCI Asia-Pacific index outside Japan slipped 1 percent. Oil prices increased following reported attacks in the Middle East. Multiple analyses attribute the moves to AI-related valuation concerns, market corrections, or routine price discovery, though data on underlying drivers remain limited to a single source.