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Asian stocks fall on AI value drop
Asian stocks experienced a significant setback today due to declines in technology and artificial intelligence company valuations, with the Korean "Kospi" index dropping by 2.1% and the Japanese "Nikkei 225" index falling by 1.4%. Japan's inflation rate rising above the Bank of Japan's target has led to expectations of another interest rate hike. Meanwhile, the Chinese stock market entered a bear market as valuations of AI companies deteriorated and shares of major firms like SK Hynix and Samsung Electronics declined. Other markets in Hong Kong, Australia, and India also fell, influenced by escalating tensions in the Middle East and rising oil prices.
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