Asian markets traded mixed on Wednesday as fading momentum in artificial intelligence-linked stocks, elevated oil prices and concerns over persistent inflation kept investors cautious.Japan’s Nikkei 225 edged up less than 0.1% to 62,774.94, while South Korea’s Kospi gained 0.9% to 7,708.05 after recovering some recent losses.Australia’s S&P/ASX 200 slipped 0.3% to 8,645.80.Hong Kong’s Hang Seng Index fell 0.4% to 26,246.29, while China’s Shanghai Composite was little changed, down less than 0.1% at 4,213.86.As per Reuters, MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.6% for a second straight session, as markets reacted to stalled US-Iran talks and hotter-than-expected US inflation data.AI stocks under pressureSouth Korean markets remained volatile after a recent AI-driven rally pushed stocks to record highs.
Korean shares had earlier dropped as much as 3.2% before recovering.Shares of Samsung Electronics plunged 5.7% after the company failed to reach a wage agreement with its labour union, raising the possibility of a strike involving more than 50,000 workers that could affect chip production.On Wall Street, major US indices ended lower overnight, with technology stocks leading declines.The S&P 500 slipped 0.2% from its record high, while the Nasdaq Composite fell 0.7%, AP reported.
