Asian shares are mixed, US futures edge higher as AI fears drag Wall Street lower
ABC News
Shares are mixed in Asia as worries over risks linked to massive investments in artificial intelligence and a potential U.S.-Iran conflict weigh on major benchmarks
BANGKOK -- Shares were mixed Friday in Asia as worries over risks linked to massive investments in artificial intelligence and a potential U.S.-Iran conflict weighed on major benchmarks.
U.S. futures edged higher, while oil prices resumed their ascent. Crude prices have been climbing as both the United States and Iran signal they are prepared for war if talks on Tehran’s nuclear program fizzle out.
Tokyo’s Nikkei 225 fell 1.2% to 56,797.22 as shares in major banks and other financial institutions skidded on worries over the potential impact of weakening private credit companies that have lent to companies exposed to the risk that AI will steal away their businesses.
That includes market heavyweights like Mitsubishi UFJ Financial Group, which has a partnership with Blue Owl Capital, one such private-credit company. MUFJ's shares dropped 2.6% in Tokyo after Blue Owl lost 5.9% on Thursday.
Toyota Motor Corp. fell 3.9% and Sony was down 3.3%.
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