By Fatma Younis
Asian shares traded mixed Friday as concerns over artificial intelligence's future grew following Alphabet's sharp stock decline that weighed on U.S. markets.
Japan's Nikkei Falls as BOJ Meets
Japan's benchmark Nikkei 225 dropped 2.6% to 62,960.60. The Bank of Japan concluded a two-day monetary policy meeting, with most analysts expecting no action after the central bank raised its benchmark rate to 1.25% last month. The U.S. has been pressuring Japan to raise rates further due to the weakening yen. In currency trading, the dollar fell to 157.50 Japanese yen from 157.65 yen, while the euro rose to $1.1197 from $1.1181.
Mixed Performance Across Asia
Australia's S&P/ASX 200 rose 0.5% to 8,937.60. South Korea's Kospi declined 5.4% to 5,618.76 as shares in SK Hynix and Samsung Electronics slipped. Hong Kong's Hang Seng added 1.2% to 23,225.69, while the Shanghai Composite lost 0.9% to 3,618.14.
U.S. Markets Dragged by Alphabet Plunge
On Wall Street, the S&P 500 fell 0.3% to 7,720.39 for its first loss in four days. The Nasdaq composite tumbled 1.4% to 26,184.72, and the Dow Jones Industrial Average dropped 132.54 points to 52,342.56. Alphabet's Class A shares plunged 12.6%, their worst day in over 20 years, making it one of the most influential drags on the market.
Bond Yields Retreat, Oil Prices Rise
The yield on the 10-year Treasury fell to 4.94% from 5.05%, pulling back from a high above 5.30% earlier this month. In energy trading, benchmark U.S. crude gained 2.80% to $104.86 a barrel, while Brent crude rose 2.54% to $117.80 a barrel.
Shares tied to AI interest have been volatile, rising on enthusiasm but falling on worries about chip supplies and other constraints.
