MANILA, Philippines (AP) — Asian shares were mixed Friday in holiday-thinned trading as tech stocks slipped as a recent rebound driven by hopes for an interest rate cut by the Federal Reserve lost steam.

While developments related to artificial intelligence have been driving recent ups and downs in world markets, the focus remains on the outlook for U.S. monetary policy. Recent comments by Fed officials have helped revive hopes the central bank will act during its meeting next month.

“Everyone is sprinting toward the same conclusion: the Fed will deliver holiday cheer,” Stephen Innes of SPI Asset Management said in a commentary.

Japan’s Nikkei 225 was unchanged at 50,172.60, with AI-linked stocks including Kioxia Holdings, Fujikura and Lasertec among the decliners.

Government data show

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