The ASX 200 has dropped to its lowest level in almost five months, falling as much as 2.16 per cent to an intraday low of 8,450 points before closing down 1.94 per cent at 8,469 points, News.Az reports, citing Australian media.

Tokyo stocks closed higher Wednesday, buoyed by strong performance in major technology shares, as investors anticipate robust demand for artificial intelligence products and services.

Alphabet’s stock surged 6% in premarket trading on Wednesday after investors interpreted the outcome of Google’s antitrust battle as largely favorable for the tech giant.

Chinese stocks closed another strong week of gains, fueling debate over the sustainability of a rally that has defied the country’s economic challenges, adding $1.3 trillion in market value so far this month, News.Az reports, citing Bloomberg.

Shares in Asia showed a mixed performance on Tuesday, following Wall Street’s near-record close, as investors awaited new guidance on interest rates from the U.S. Federal Reserve, News.Az reports, citingAP.