Asian stocks today: Markets trade in red amid AI concerns; Nikkei sheds over 400 points

Hong Kong's HSI was trading below 111 points or 0.44% at 25,357 at 10:38 AM IST. Nikkei also trimmed over 422 points to reach 49,089. Kospi also lost 1.39% to reach 3,999. Expectations of a year-end rally have weakened after the US Federal Reserve last week suggested it may pause interest rate cuts as early as next month. Although the central bank’s three consecutive reductions had supported equities in recent months, investors are increasingly wary that the policy tailwind could be coming to an end. With u ...