Asian Markets Mostly Fall on AI Concerns; ASX Rises, Nikkei Drops 2.5%

Asian stock markets traded mostly lower Friday, tracking Wall Street's overnight decline as semiconductor and technology shares sold off on concerns about the sustainability of AI and tech investments. Uncertainty over the Middle East conflict also weighed on sentiment. South Korea and Taiwan tumbled 5.4% and 3.2%, respectively. Japan's Nikkei 225 fell 1,639.69 points, or 2.54%, to 63,019.78 at the morning close, snapping a three-session winning streak. Advantest dropped almost 9%, Fujitsu nearly 16% and Ibiden more than 15%, while SoftBank Group lost more than 6%. The Bank of Japan is expected to hold its benchmark rate at 1.25% later Friday. Australia's S&P/ASX 200 rose 42.90 points, or 0.48%, to 8,934.70, helped by energy and bank gains. Coles plunged almost 12% on a downbeat first-quarter update and profit warning. Australia's producer price index rose 1.1% quarter-on-quarter, while private sector credit gained 0.6% in September. The Aussie dollar traded at $0.703.