TOKYO — Asian stocks were mixed, while South Korea’s Kospi stock index fell 6% on Wednesday, as doubts over massive investments in artificial intelligence once again led investors to dump chipmaker stocks.

American futures hardly changed.

The latest decline in Seoul was led by a drop in shares of chipmaker SK Hynix after its operating profit in the latest quarter missed analysts’ forecasts, even though it rose nearly sixfold.

The Kospi fell more than 8% earlier in the day, but closed 6% lower at 5,663.24. The benchmark had recently surpassed 9,000 before recovering to its lowest level since early April.

SK Hynix sank 9.4% while Samsung Electronics shares fell 4.8%.

Markets have been hit by bouts of selling in AI-related stocks as investors react to various developments, including progress in China toward cheaper, advanced AI models.

Elsewhere in Asia, Tokyo’s Nikkei 225 lost 1.5% to 61,434.19, giving up early gains. Shares of chip-making equipment maker Tokyo Electron sank 10.6% and chip measurement and inspection systems maker Lasertec Corp. fell 8.3%.

Japanese stocks had a mixed reaction to a large earthquake that hit the southern Kyushu region a day earlier. An earlier earthquake in the region caused severe damage and disruption to automakers and other manufacturers.

Shares of Nippon Paper, which owns a factory in the disaster zone that was severely damaged by Tuesday’s earthquake, fell 2.1%.

Taiwan’s Taiex lost 3.8%.

The Shanghai Composite index reversed early losses and rose 0.4%. It closed at 3,830.02.

Hong Kong’s Hang Seng gained 1.8% to 25,762.80.

In Australia the S&The P/ASX 200 added 1% to 9,038.60 after the government reported inflation has remained subdued, easing pressure on the central bank to raise interest rates.

India’s Sensex added 1.1%.

In other trading, oil prices, which had fallen from a two-month high hit last week, rebounded as a brief lull in fighting in the Iran war broke. Jordan’s air defenses intercepted five missiles launched from Iran early Wednesday, the country’s military said, hours after the U.S. military said it had shot down a barrage of Iranian missiles launched at U.S. forces in the Middle East.

Calm persisted for about three days after weeks of escalation in the strategic Strait of Hormuz, the Persian Gulf waterway and a narrow bottleneck through which 20% of the world’s traded oil normally flows.

Brent crude, the international standard, rose 3.1% to $84.58 a barrel.

Benchmark U.S. crude gained 3.6% to $82.14 a barrel.

Stocks were mixed on Wall Street on Tuesday.

the&The P 500 added 0.2% and the Dow Jones Industrial Average jumped 1%.

The Nasdaq Composite fell 0.2%.

Most U.S. stocks rose after more companies posted stronger spring earnings than analysts expected. Coca-Cola rose 5% after its revenue increased 7%.

Expectations of stellar earnings reports are weighing particularly heavily on shares of chipmakers and other companies that have benefited big from the rise of artificial intelligence technology.

Shares of Micron Technology entered the day having more than tripled during the year following spectacular growth, but its shares sank 8.9%.

Other technology companies that helped keep the market in check were Advanced Micro Devices, down 8.1%, and Applied Materials, down 7.8%.

In early currency trading in Asia on Wednesday, the US dollar fell to 163.53 Japanese yen from 163.81 yen. The euro was worth $1.1396, down from $1.1391.