Asian Equities Slide on AI Selloff, Oil Spike, and Rate Hike Expectations

Asian markets closed lower Monday as AI-related shares dropped following calls by OpenAI and Anthropic leaders for regulation, while Middle East supply concerns pushed oil prices higher. Investors are bracing for likely interest rate hikes by the US Federal Reserve and Bank of Japan this week, adding to risk-off sentiment. The declines were led by Seoul's Kospi, which fell 3.26%, while Hong Kong's Hang Seng bucked the trend with a modest gain.