FX.co ★ Asian Stocks Mostly Lower on Weak Tech Earnings

Asian equity markets mostly declined on Thursday after disappointing earnings from major technology companies reignited doubts about the sustainability of heavy investments in artificial intelligence. Shares of Alphabet, Google’s parent company, tumbled nearly 10% in after-hours trading after the firm reported weaker-than-expected third-quarter revenue across most of its core businesses, which help fund its AI initiatives. In South Korea, chipmaker Samsung Electronics fell more than 5% after its results failed to meet elevated investor expectations. The Kospi Index, a key barometer of sentiment toward AI-related stocks, dropped about 3%, while benchmark indexes in Japan, China, and Hong Kong also came under pressure. On the monetary policy front, the US Federal Reserve left interest rates unchanged in a widely expected move, though two policymakers dissented in favor of a rate hike, adding to uncertainty over the future policy path.