Asian Stocks Open Mixed on AI Dip, High Oil Prices

Asian stock markets opened mixed early Wednesday, reflecting waning investor enthusiasm for artificial intelligence stocks and sustained pressure from elevated oil prices amid the ongoing U.S.-Iran war.

Japan's Nikkei 225 rose less than 0.1 percent to 62,774.94. South Korea's Kospi index climbed 0.9 percent to 7,708.05, recovering from a 2.3 percent drop earlier in the week prompted by comments from a senior U.S. administration official suggesting possible redistribution of AI profits from companies to citizens. Australia's S&P/ASX 200 fell 0.3 percent to 8,645.80, Hong Kong's Hang Seng declined 0.4 percent to 26,246.29, and the Shanghai Composite edged down less than 0.1 percent to 4,213.86.

The performance followed a mixed session on Wall Street, where the S&P 500 dropped 0.2 percent, or 11.88 points, to 7,400.96 after reaching an all-time high the previous day. The Dow Jones Industrial Average gained 0.1 percent, or 56.09 points, to 49,760.56. The Nasdaq Composite fell 0.7 percent, or 185.92 points, to 26,088.20, with semiconductor stocks hit hardest. Intel shares dropped 6.8 percent despite more than tripling in value so far this year, while Micron Technology fell 3.6 percent.