China's Shanghai Composite index ends up 0.23%

Asian stocks tumbled on Wednesday as tech stocks succumbed to heavy selling pressure on increasing worries over stretched valuations and AI bubble.

Uncertainty surrounding the Federal Reserve policy and signs that the U.S. is edging closer to stagflation also kept investors on edge.

China's Shanghai Composite index ended up 0.23 percent at 3,969.25, reversing early losses after a private survey showed China's services sector continued to expand in October, but at its slowest pace in three months.

Hong Kong's Hang Seng index cut early losses to finish marginally lower at 25,935.41 after China's State Council's tariff commission said it would suspend an additional 24 percent additional tariff on U.S. goods for one year but retain a 10 percent levy.

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