Asian Shares Rebound as Indonesia Market Plunges on Downgrade Warning

Asian shares mostly rebounded Friday after a tech sell-off, while Indonesia's stock market plunged over 10% following MSCI's warning it would downgrade the country from emerging market status, raising capital flight concerns. South Korea's Kospi jumped 3.6% and Japan's Nikkei rose 1.9%, recovering from sharp losses, as AI-related stocks gained. Federal Reserve Chair Kevin Warsh said AI could bring huge benefits to global economies, boosting sentiment. Indonesia's Jakarta Composite fell to multi-year lows after MSCI said its emerging market classification was "no longer appropriate." Oil prices remained elevated near $105 per barrel amid Middle East tensions and supply concerns.