Asian markets rebound; Indonesia stocks plunge on downgrade warning

Asian shares mostly rebounded on Friday following Wall Street gains, while Indonesia's stock market plunged over 10% after index provider MSCI warned it would downgrade the country from "emerging market" status, raising capital flight concerns. South Korea's Kospi jumped 3.6% after tumbling 7.6% the prior day, with Samsung Electronics up 4.2% and SK Hynix adding 3.5%. Japan's Nikkei 225 rose 1.9%, and Federal Reserve chair Kevin Warsh said AI could bring huge economic benefits. Oil prices stayed elevated near $105 per barrel amid Middle East tensions, with the IEA releasing emergency reserves. The dollar fell to 157.83 yen, while the euro rose to $1.1228.