Asian Markets Decline Following Wall Street's Downturn Amid AI Stock Concerns
Asian stock markets experienced a decline on Monday, influenced by a significant drop in Wall Street's performance, which marked its worst day in three weeks. The downturn was primarily driven by a decrease in the value of major artificial intelligence stocks. In Japan, the Nikkei 225 index fell by 1.5%, while South Korea's Kospi dropped by 1.2%. The Hang Seng in Hong Kong also saw a decline of 0.7%, although the Shanghai Composite index managed a slight increase of 0.1%. The decline in Asian markets coincided with China's report of a 2.6% drop in investment in fixed assets for November, indicating ongoing economic challenges. Despite these setbacks, retail sales and factory output in China showed some growth. The Bank of Japan's upcoming decision on interest rates is also a focal point for investors, with expectations of a potential rate hike.