Decline in Asian Markets Amidst AI Stock Sell-off and Rising Oil Prices

Asian markets traded mostly lower on Friday as a recent decline in artificial-intelligence stocks affected global markets, leading to the S&P 500 experiencing its worst day since July. Oil prices are currently at their highest since May, with Brent crude rising by 0.5% to $113.73 per barrel, and U.S. benchmark crude increasing by 0.6% to $100.08 per barrel.

In the trading sphere, Tokyo’s Nikkei 225 saw a drop of 1.7% to 61,825.26, while South Korea’s Kospi decreased by 2.4% to 5,403.32. Conversely, Hong Kong’s Hang Seng index edged up 0.2% to 22,983.80, and the Shanghai Composite index fell by 1.3% to 3,610.52. Australia’s S&P/ASX 200 declined by 0.2% to 8,777.00.