A dealer talks on the phone at a dealing room of Hana Bank in Seoul, South Korea, Wednesday, May 13, 2026. (AP Photo\/Lee Jin-man)<\/small><\/p>\n
2026-05-13T02:49:58Z<\/p>\n
TOKYO (AP) \u2014 Asian shares traded mixed early Wednesday, as fading enthusiasm over AI and other technology stocks gradually put the brakes on Wall Street\u2019s record-setting run<\/a><\/span>.<\/p>\n Japan\u2019s benchmark Nikkei 225 edged up less than 0.1% to 62,774.94. South Korea\u2019s Kospi index gained 0.9% to 7,708.05, recouping some of its recent losses. The Kospi sank 2.3% earlier in the week from an all-time high after a senior figure in the administration suggested the government may redistribute windfall AI profits from companies to citizens. <\/p>\n Australia\u2019s S&P\/ASX 200 lost 0.3% to 8,645.80. The Hang Seng slipped 0.4% to 26,246.29, while the Shanghai Composite was little changed, down less than 0.1% at 4,213.86. <\/p>\n \u201cCorporate earnings and AI momentum are acting as the market\u2019s primary shock absorbers, but the road is getting significantly rougher,\u201d said Tim Waterer, chief market analyst at KCM Trade. <\/p>\n \u201cWith oil prices becoming entrenched at elevated levels and a diplomatic breakthrough between the U.S. and Iran remaining elusive, the easy bullish narrative is becoming much harder to maintain.\u201d <\/p>\n In energy trading, benchmark U.S. crude fell 58 cents to $101.60 a barrel. Brent crude lost 66 cents to $107.11 a barrel. <\/p>\n Those prices are still way above what they were before the war with Iran<\/a><\/span>, which threatens to drag on, the ceasefire looking more tenuous. Brent has surged from roughly $70 per barrel before the war. The war has essentially shut the Strait of Hormuz<\/a><\/span> to oil tankers. <\/p>\n