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Asian stocks hold steady as tech recovers and Fed decision nears
Asian stocks stabilized today after AI shares recovered from a sell-off prompted by calls to review development regulations. Meanwhile, investors remain cautious as oil prices and bond yields continue to rise ahead of the Federal Reserve's decision on interest rate hikes. Korea and Japan's indices increased, while Hong Kong's declined. It is expected that there is a more than 90% probability of the Fed raising interest rates, amid rising concerns over inflation and the impact of higher costs on global stock markets.
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