Asian shares trade mixed as AI excitement fades and war worries continue
Asian stock markets showed mixed performance on Wednesday amid fading AI-driven gains and persistent geopolitical tensions, with Japan’s Nikkei 225 rising slightly while South Korea’s Kospi recovered losses after government hints at redistributing AI profits. U.S. stocks also dipped, with the Nasdaq falling sharply as chipmakers like Intel and Micron Technology faced steep declines, while oil prices remained elevated due to ongoing conflicts in the Middle East." "article": "Asian stock markets traded mixed on Wednesday as investor excitement over artificial intelligence and tech stocks waned, while geopolitical tensions weighed on sentiment. Japan’s Nikkei 225 climbed less than 0.1% to 62,774.94, while South Korea’s Kospi index rebounded 0.9% to 7,708.05 after a 2.3% drop earlier in the week, following speculation that the government might redistribute AI-related profits to citizens. Australia’s S&P/ASX 200 fell 0.3% to 8,645.80, and Hong Kong’s Hang Seng slipped 0.4% to 26,246.29, while China’s Shanghai Composite barely changed, down 0.1% at 4,213.86. On Wall Street, the S&P 500 dipped 0.2% from its record high, while the Nasdaq composite fell 0.7% after hitting its own all-time peak the previous day. Tech and chip stocks led declines, with Intel dropping 6.8% and Micron Technology falling 3.6%, as AI-driven momentum slowed. The Dow Jones Industrial Average rose slightly by 0.1%, adding 56 points to 49,760.56. Oil prices remained under pressure from Middle East tensions, with U.S. crude falling 58 cents to $101.60 per barrel and Brent crude dropping 66 cents to $107.11. The conflict in the region has disrupted oil flows through the Strait of Hormuz, pushing Brent prices up from around $70 before the war. Treasury yields rose to 4.45% on the 10-year note, signaling expectations that the Federal Reserve will maintain high interest rates to curb inflation. Market analysts noted that corporate earnings and AI-driven growth were no longer providing enough support, with elevated oil prices and unresolved U.S.-Iran tensions complicating the outlook. The U.S. dollar strengthened against the yen, reaching 157.70 yen, while the euro slightly declined to $1.1741.
Asian stock markets traded mixed on Wednesday as investor excitement over artificial intelligence and tech stocks waned, while geopolitical tensions weighed on sentiment. Japan’s Nikkei 225 climbed less than 0.1% to 62,774.94, while South Korea’s Kospi index rebounded 0.9% to 7,708.05 after a 2.3% drop earlier in the week, following speculation that the government might redistribute AI-related profits to citizens. Australia’s S&P/ASX 200 fell 0.3% to 8,645.80, and Hong Kong’s Hang Seng slipped 0.4% to 26,246.29, while China’s Shanghai Composite barely changed, down 0.1% at 4,213.86. On Wall Street, the S&P 500 dipped 0.2% from its record high, while the Nasdaq composite fell 0.7% after hitting its own all-time peak the previous day. Tech and chip stocks led declines, with Intel dropping 6.8% and Micron Technology falling 3.6%, as AI-driven momentum slowed. The Dow Jones Industrial Average rose slightly by 0.1%, adding 56 points to 49,760.56. Oil prices remained under pressure from Middle East tensions, with U.S. crude falling 58 cents to $101.60 per barrel and Brent crude dropping 66 cents to $107.11. The conflict in the region has disrupted oil flows through the Strait of Hormuz, pushing Brent prices up from around $70 before the war. Treasury yields rose to 4.45% on the 10-year note, signaling expectations that the Federal Reserve will maintain high interest rates to curb inflation. Market analysts noted that corporate earnings and AI-driven growth were no longer providing enough support, with elevated oil prices and unresolved U.S.-Iran tensions complicating the outlook. The U.S. dollar strengthened against the yen, reaching 157.70 yen, while the euro slightly declined to $1.1741.
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