Asia stocks slide as Apple outlook weighs and RBA lifts rates to 18-year high

What happened

Asian stock markets declined, with sentiment pressured by Apple's outlook, which weighed on technology-linked shares across the region.

At the same time, the Reserve Bank of Australia increased its benchmark interest rate, taking it to an 18-year high.

Why it matters

A cautious outlook from one of the largest listed technology companies tends to travel beyond its own shares, because index-heavy tech names and their suppliers across Asia carry significant weight in regional and US benchmarks. Shifts in risk appetite from such guidance often show up first in equity indices and then in currencies tied to risk sentiment.

Central bank rate decisions matter to markets through the interest rate differential channel. Tighter policy in one economy changes the relative yield picture against the dollar and other majors, and higher rate environments also affect the appeal of non-yielding assets such as gold and speculative assets such as crypto.

What to watch

Further detail on Apple's guidance and how suppliers in Asia respond, along with the Reserve Bank of Australia's communication around its latest rate move.