July 8 : HSBC closed its "overweight" stance on emerging markets equities on Wednesday, citing increased volatility in Asia and warning that renewed concerns over weaker AI spending could disproportionately weigh on EM Asian markets.EM Asian equities have remained volatile lately, with major technology stocks coming under pressure as investors grow increasingly cautious about debt-backed AI spending and the sustainability of returns from those investments.The broader MSCI's index tracking EM Asian equities slid over 2 per cent on Wednesday, broadly driven by South Korean equities, while a flare-up in Middle East tensions also weighed.South Korea's benchmark KOSPI stock index closed 5.35 per cent lower on the day, dropping more than 20 per cent from a record close in late June and signallin