Asia stock markets track losses on Wall Street as AI fears hit sentiment
An aerial view of Singapore’s skyline.
Tong Thi Viet Phuong | Moment | Getty Images
Asia-Pacific markets opened mostly lower Friday after fears about artificial intelligence disruption in the U.S. sent the S&P 500 to a third straight day of losses.
Certain pockets of the U.S. stock market have been hit this year by the release of AI tools that could replicate their businesses — or at least eat into their profit margins.
Shares of several trucking and logistics companies declined on fears that new AI tools could slash major freight inefficiencies, leading to less demand for the industry’s services.
Real estate and financial stocks were also casualties, with commercial real estate brokers extending losses for a second straight day.
Investors in Asia were watching for any spillover effects, though Taiwan — the most prominent market in the AI space — was closed for the Lunar New Year holiday.
Australia’s S&P/ASX 200 was 1.02% down in early trade.
Japan’s Nikkei 225 lost 0.58%, after briefly touching 58,000 on Thursday. The Topix declined 0.58%. South Korea’s Kospi added 0.35%, while the small-cap Kosdaq retreated 1.36%.
Hong Kong’s Hang Seng index futures were at 26,703, lower than the index’s last close of 27,032.54.
