Asian Shares Follow Wall Street Lower On AI Concerns

Market Overview - Asian stocks ended mostly lower, influenced by the S&P 500 and Nasdaq reaching three-week lows due to concerns over high stock valuations [1] - The dollar remained firm in Asian trade ahead of multiple central bank meetings [2] - Oil prices increased due to supply disruption concerns from Venezuela and Russia [2] Regional Indices - China's Shanghai Composite index rose by 0.16 percent to 3,876.37, as China Vanke initiated a second meeting with bondholders to extend debt payments [2] - Hong Kong's Hang Seng index finished slightly higher at 25,498.13 after a volatile session [3] - The Nikkei average fell by 1.03 percent to 49,001.50, while the broader Topix index decreased by 0.37 percent to 3,356.89 [4] - Seoul's Kospi average dropped by 1.53 percent to 3,994.51, driven by concerns over AI sector profitability [5] - Australian markets managed to recover slightly, ending marginally higher, while New Zealand's S&P/NZX-50 index dipped by 0.29 percent to 13,256.77 despite strong Q3 GDP growth [6] Sector Performance - Semiconductor and AI-related stocks in the U.S. faced significant losses, with the Nasdaq Composite down by 1.8 percent and the S&P 500 down by 1.2 percent [7] - LG Energy Solution's stock plummeted by 8.9 percent following Ford Motor's cancellation of a significant battery agreement [5]