Oil prices climbed, however, after the United States and Iran ratcheted up Middle East tensions.
Investors' appetite for all things artificial intelligence has been tested in recent months on concern about elevated valuations and as they question when the trillions pumped into the sector will see returns.
That has hammered a number of previously high-flying companies that have hit multiple records this year, particularly those in South Korea and Japan.
An earnings report from Google-parent Alphabet on Wednesday raised fresh concerns as it said it would likely spend as much as $205 billion on AI this year, far more than expected.
Still, Asian traders took the opportunity to buy back into beaten-down stocks, with Seoul up more than four percent, helped by rallies in chip giants SK hynix and Samsung, while Tokyo was boosted by Advantest and SoftBank.
Hong Kong, Shanghai, Sydney, Taipei, Wellington, Manila, Bangkok and Jakarta also rose.
London, Paris and Frankfurt fell.
Next week's results from Microsoft, Meta and Amazon will be pored over for their capital spending plans.
"Big Tech does not need to stop spending for the earnings season to be positive. But the financial trade-off must improve," wrote Charu Chanana at Saxo Markets.
"The best results will come from companies showing that AI demand is turning into revenue, margins and cash flow.
"The next phase of the AI trade may reward those producing the highest returns from their infrastructure -- not simply those writing the largest cheques."
Traders are also growing increasingly nervous that renewed strikes between US and Iranian forces could reignite inflation as oil prices creep higher.
Brent climbed four percent to a fresh six-week high Thursday and back towards $100, while WTI added more than three percent.
That came a day after they both climbed more than three percent as President Donald Trump threatened to knock out one Iranian bridge or power plant in return for each attack on shipping in the Strait of Hormuz.
Foreign Minister Abbas Araghchi vowed Iran would respond in kind to any attack on its infrastructure, saying on X, "our defense doctrine is clear: eye for an eye".
In a sign the conflict is spreading, Yemen's Houthi rebels claimed to have struck two Saudi oil tankers in the Red Sea on Wednesday, potentially opening a new front in the war.
The Red Sea escalation followed a Houthi threat to blockade Saudi ports, widening the pressure on key Middle East shipping routes already threatened by fighting over the Strait of Hormuz.
Fighting over Hormuz, through which a fifth of world oil and gas usually passes, has collapsed a preliminary US-Iran peace deal, with Tehran reimposing its blockade and firing on vessels that seek to transit.
The prospect of higher oil prices putting upward pressure back on inflation has raised the spectre of a Federal Reserve interest rate hike.
Investors will be looking at next week's policy meeting by the US central bank for some guidance on its plans. Money markets are pricing in about a 30 percent chance of a rate increase, according to Bloomberg.
Adding to the uncertainty is the possibility of another global trade standoff after Trump's trade envoy Jamieson Greer signaled Tuesday that Washington was set to impose new levies on dozens of countries soon.
Eyes are also on Tokyo after the yen hit a fresh four-decade low against the dollar amid concerns at the Bank of Japan's slow pace of monetary tightening and speculation the Fed will hike soon, which would exacerbate an already wide interest rate differential.
Rising oil prices and concerns over Japan's economy have added to pressure on the currency.
IG analyst Fabien Yip said: "Unless paired with a genuine shift in BoJ policy, intervention will continue to function as a circuit-breaker rather than a cure for yen weakness."
- Key figures around 0810 GMT -
Tokyo - Nikkei 225: UP 0.5 percent at 66,422.60 (close)
Hong Kong - Hang Seng Index: UP 1.3 percent at 25,210.81 (close)
Shanghai - Composite: UP 0.3 percent at 3,876.78 (close)
London - FTSE 100: DOWN 0.2 percent at 10,696.80
West Texas Intermediate: UP 3.1 percent at $89.51 a barrel
Brent North Sea Crude: UP 4.0 percent at $97.80 per barrel
Euro/dollar: UP at $1.1425 from $1.1411 on Wednesday
Pound/dollar: UP at $1.3374 from $1.3372
Euro/pound: UP at 85.43 pence from 85.33 pence
Dollar/yen: UP at 163.32 yen from 163.15
New York - Dow: FLAT at 52,218.58 (close)
dan/lga