Global shares traded mixed Friday as worries about artificial intelligence grew after Alphabet’s stock drop. Japan’s Nikkei 225 fell 2.1 per cent to 63,290.11, while the Bank of Japan kept interest rates at 1.25 per cent. Meanwhile, US Dow futures rose 0.2 per cent as energy prices showed a steady gain.
Synopsis
On the global stage, stock markets displayed a mixed bag of results as Alphabet's stock drop spurred worries about the trajectory of artificial intelligence. Japan witnessed a notable dip in the Nikkei 225 index while the Bank of Japan opted to keep interest rates unchanged. In the US, the Dow futures crept up slightly, contrasting with a decline in S&P 500 futures.
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Global shares were trading mixed Friday, as worries about the future of artificial intelligence grew after Alphabet's stock drop dragged on US markets.
France's CAC 40 gained 0.2 per cent in early trading to 7,988.84, while the German DAX edged down 0.1 per cent to 26,008.99. Britain's FTSE 100 added nearly 0.4 per cent to 10,759.33. US shares were set to trade mixed, with Dow futures up 0.2 per cent at 52,613.00, while S&P 500 futures were down 0.8 per cent at 7,689.00.
In Asia, Japan's benchmark Nikkei 225 dropped 2.1 per cent to finish at 63,290.11. At the end of its two-day monetary policy board meeting, the Bank of Japan decided to keep its benchmark interest rate unchanged at 1.25 per cent. That was widely expected because the central bank raised the rate last month.
The US has been pressuring Japan to raise rates because of concerns about the weakening yen. In currency trading, the US dollar fell to 157.28 Japanese yen from 157.65 yen. The euro cost USD 1.1196, up from USD 1.1181.
Australia's S&P/ASX 200 rose 0.2 per cent to 8,908.10. South Korea's Kospi declined 3.5 per cent to 5,730.74, as shares in SK Hynix and Samsung Electronics both slipped.
AI-related stocks have been volatile. Shares of chipmakers and other companies have risen on enthusiasm for the technology, then fallen on concerns about issues such as supply constraints.
Hong Kong's Hang Seng added 1.5 per cent to 23,294.42, while the Shanghai Composite lost 1.4 per cent to 3,599.02.
In energy trading, benchmark US crude gained 1.53 per cent to USD 103.56 a barrel. Brent crude, the international standard, edged up 1.65 per cent to USD 116.77 a barrel.
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