Asian stocks fall as AI valuations drop
Most Asian stocks declined, particularly in South Korea, Japan, and China, due to deteriorating valuations of technology and artificial intelligence companies. The sector continues to experience a sharp downturn amid concerns over excessive funding for AI projects and slowing Chinese economic growth. In South Korea, the KOSPI index hit a three-month low, dropping by 2.1%. Japanese stocks fell by 1.4% as inflation rose to its highest level since December 2025, fueling expectations that the Bank of Japan will continue raising interest rates. Meanwhile, the CSI 300 index entered a bear market, with significant declines in China, amid mounting pressure on Chinese exporters due to a strong yuan and sluggish economic growth.
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