Asian markets mixed as AI worries hit chip stocks

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 2.3%, while South Korea's Kospi dropped nearly 4% on losses in chip makers. The Bank of Japan kept its benchmark rate at 1.25%, as expected, despite U.S. pressure to raise it. Alphabet's Class A shares fell 12.6%, their worst day in over 20 years, pulling the S&P 500 down 0.3% and the Nasdaq 1.4%. Hong Kong's Hang Seng rose 1.7%, while Shanghai slipped 0.4%. The 10-year Treasury yield fell to 4.94%, and U.S. crude gained to $103.17 a barrel.