Market Overview - Asian stocks declined, influenced by Wall Street's downturn, with concerns over high tech valuations and the U.S. economic outlook [1] - The Shanghai Composite index fell 0.97% to 3,990.49, while Hong Kong's Hang Seng index dropped 1.85% to 26,572.46, indicating a loss of momentum in China [3] - Japanese markets experienced a sharp decline, with the Nikkei average tumbling 1.77% to 50,376.53, driven by profit-taking in tech stocks [5] - The Kospi average in Seoul plummeted 3.81% to 4,011.57, amid foreign selling and reduced hopes for rate cuts [6] - Australian markets hit a four-month low, with the S&P/ASX 200 falling 1.36% to 8,634.50, affected by Fed rate uncertainty and slowing Chinese growth [7] Economic Indicators - China's industrial production rose 4.9% year-on-year in October, below expectations of 5.5% and down from 6.5% in September [3] - Retail sales in China increased by 2.9%, surpassing expectations of 2.7%, while fixed asset investment fell 1.7%, missing forecasts [4] - The jobless rate in China was reported at 5.1%, slightly better than the expected 5.2% [4] - U.S. stocks faced their weakest session in a month, with the Nasdaq Composite plummeting 2.3% and the S&P 500 and Dow both falling around 1.7% [10] Geopolitical Events - Oil prices rose over 1% following a Ukrainian drone attack that damaged infrastructure in the Russian Black Sea port of Novorossiysk, escalating the conflict in Ukraine [2]