Asian Markets Slip on AI Worries; Tokyo Bucks Trend

Asian stock markets closed the week weakly, pressured by concerns over the artificial intelligence sector following the departure of Nvidia CEO Jensen Huang. Geopolitical tensions in the Middle East and the Russia-Ukraine war also weighed on investor sentiment. Tokyo was the exception, closing positively at +0.53%. The yen weakened against the dollar to 159.86 on expectations of a Federal Reserve rate hike, while remaining stable against the euro at 176.87. Hong Kong fell 1.48%, Shanghai dropped 0.59%, and Shenzhen declined 2.1%, with Seoul and Mumbai also down. In currency markets, the yen's depreciation reflected broader market dynamics. On the macroeconomic front, Europe is set to release GDP and trade balance data, while the United States is expected to report producer prices.