It's not the whole reason but one major aspect of it is that all throughout the 80s and 90s when crime was at its worst and there was very little development east of RCP, Asian people were the only ones willing to own and run businesses in many parts of the city.

These businesses were mostly corner stores and liquor stores, and had a reputation for charging high prices for low quality products. Even to this day if you go EOTR many if not most liquor stores, corner stores, and carryouts are owned and operated by Asian people. A significant amount of the anti-Asian sentiment is due to their reputation as profiteering off of the inability for poor black people to go to more competitive stores outside food deserts, and alleged racist treatment of their black customers.