Asia stocks tumble as AI spending concerns deepen; BOJ holds rates

What happened: Asian stocks fell on Friday, led by AI-related shares after weak U.S. tech results, while the Bank of Japan held rates steady as expected. Key numbers: KOSPI fell more than 5%, Nikkei 225 2.8%, TOPIX 1.3%. Nasdaq 100 Futures dropped more than 2% by 03:16 GMT. BOJ kept its policy rate at 1.25%. Why it matters: The reaction underscored a shift in investor sentiment, with markets increasingly demanding evidence that heavy spending on data centres, processors and AI infrastructure can translate into sustainable revenue growth and cash flow. Market: -4.2% today ($243.79), +7.6% YTD, 2.1x vol — as of 23:45 UTC Verified: Q3_2026 (Oct 29) EPS $1.89 vs $1.96 est, -3.5% miss; next print ~Jan 28

Asian stocks fell on Friday, led by AI-related shares after weak U.S. tech results, while the Bank of Japan held rates steady as expected.

The reaction underscored a shift in investor sentiment, with markets increasingly demanding evidence that heavy spending on data centres, processors and AI infrastructure can translate into sustainable revenue growth and cash flow. Market: -4.2% today ($243.79), +7.6% YTD, 2.1x vol — as of 23:45 UTC Verified: Q3_2026 (Oct 29) EPS $1.89 vs $1.96 est, -3.5% miss; next print ~Jan 28