Asian Shares Mixed as Tech Volatility Raises AI Spending Doubts

Asian markets were mixed as investors weighed persistent volatility in technology shares and doubts over whether returns from heavy AI spending will justify the costs of chips, data centers and financing. South Korea and Shanghai rose modestly, while Japan and Taiwan declined; Indonesia’s market also extended a sharp drop after MSCI warned it could lose emerging-market status. Oil fell more than 1% after President Donald Trump waived broad sanctions on Russia, while investors looked to major U.S. company earnings and the Federal Reserve’s upcoming rate decision for clues about corporate prospects and borrowing costs.