Asian Markets Mixed as AI Concerns Weigh on Tech Shares

Asian shares traded mixed Friday as concerns about artificial intelligence intensified following Alphabet's stock plunge, which dragged U.S. markets lower. Japan's Nikkei 225 fell 2.6%, while South Korea's Kospi dropped 5.4% amid declines in chipmaker shares. Alphabet shares fell 12.6%, their worst day in over 20 years, contributing to the S&P 500's first loss in four days and a 1.4% Nasdaq decline. The Bank of Japan concluded its policy meeting with no expected action after raising rates to 1.25% last month. Oil prices rose, with U.S. crude up 2.8% to $104.86 per barrel, while the 10-year Treasury yield fell to 4.94%. Australia's S&P/ASX 200 and Hong Kong's Hang Seng gained, but Shanghai's composite lost 0.9%.