Morning brief: Asia stocks fall, Paramount wins WBD takeover bid

On Friday, technology-sector valuation concerns, geopolitical tensions tied to US–Iran negotiations, and shifting dynamics in the cryptocurrency market combined to keep risk appetite subdued.

Meanwhile, a major media industry consolidation reshaped the competitive streaming landscape after Paramount Skydance prevailed in its takeover pursuit of Warner Bros. Discovery.

Asian markets retreat as tech valuation worries

Sentiment remained weak across Asian trading on Friday as investors pulled back from risk assets.

Shares declined after Wall Street reacted coolly to strong earnings from Nvidia, with markets signaling that expectations for artificial-intelligence leaders remain extremely high.

MSCI’s broad Asia-Pacific index outside Japan slipped 0.14%, while Japan’s Nikkei gained 0.26%.

China's CSI 300 index fell 0.38% while India's Nifty 50 declined 0.80%.

US equity futures also moved lower during Asian hours, with S&P 500 futures down 0.24% and Nasdaq-100 futures off 0.13%.

Safe-haven flows strengthened.

The yen gained about 0.2% against the dollar, US Treasury yields declined, and gold held near recent highs after a two-day advance.

Energy markets stayed tense amid uncertainty surrounding negotiations between Washington and Tehran.

With no diplomatic breakthrough, traders continued pricing in potential escalation risk in the Middle East.

Bitcoin and crypto slide as leverage unwinds, range holds

Cryptocurrencies tracked broader risk sentiment, trading weaker alongside equities.

Bitcoin hovered near $67,700, down roughly 1.5% on the day, while Ethereum slipped a similar amount to around $2,047.

Both assets remained locked within a narrow range established since the Feb. 5 sell-off.

Analysts suggested the pullback reflected leverage unwinding rather than structural deterioration.

Despite short-term weakness, weekly performance for several major tokens remained positive, with Cardano, Solana, Ethereum, and BNB outperforming Bitcoin.

The broader interpretation among market participants was that demand had not vanished but required fresh liquidity to sustain momentum.

Paramount wins WBD bid

Paramount Skydance secured victory in a prolonged takeover battle for Warner Bros. Discovery after Netflix declined to match a higher all-cash offer.

Warner’s board determined Paramount’s $31-per-share proposal was superior to Netflix’s earlier agreement to purchase Warner’s studios and HBO Max business at $27.75 per share.

The deal values the company at about $81 billion and would place Warner Bros., HBO, CNN, TNT, TBS and Food Network under Paramount’s control if approved by regulators.

Netflix executives explained their decision, stating: “We've always been disciplined, and at the price required to match Paramount Skydance's latest offer, the deal is no longer financially attractive, so we are declining to match.” They added, “This transaction was always a 'nice to have' at the right price, not a 'must have' at any price.”

Warner CEO David Zaslav endorsed the transaction, saying, “Once our Board votes to adopt the Paramount merger agreement, it will create tremendous value for our shareholders.”

The deal still faces regulatory scrutiny due to concerns over media consolidation and news ownership concentration.

US–Iran nuclear talks extend without breakthrough

Geopolitics also remained a key market driver as the United States and Iran continued negotiations over Tehran’s nuclear program.

The latest talks produced progress but no breakthrough.

Iranian Foreign Minister Seyed Abbas Araghchi said, “Further progress has been made in our diplomatic engagement with the United States,” and described the discussions as the “most intense so far.”

The two sides agreed to continue talks and meet again to address technical issues.

The negotiations remain complicated.

Washington has demanded curbs on nuclear development and broader security measures, while Tehran seeks sanctions relief and maintains its right to uranium enrichment.

President Donald Trump said Iran wants an agreement but noted a sticking point: “They [Iran] want to make a deal, but we haven’t heard those secret words: We will never have a nuclear weapon.”

Oil markets reacted cautiously, with traders awaiting clarity on both negotiations and potential OPEC+ production decisions.