Oil steadied after the biggest drop in almost three weeks, as traders look to reports this week to assess the extent of the glut. Brent crude traded above $62 a barrel after tumbling 2% on Monday, while West Texas Intermediate was near $59. The Energy Information Administration is set to release its Short-Term Energy Outlook on Tuesday, with reports due from the International Energy Agency and OPEC later this week. The IEA has predicted a record surplus next year, and traders will be on the lookout for any changes to market outlooks. Crude has traded in a tight $4-a-barrel...
Japanese stocks rebounded on Wednesday, with the Nikkei 225 Index climbing 1% to around 39,400 and the broader Topix Index rising 0.4% to 2,768, recovering from losses in the previous session when technology stocks faced a selloff. The decline on Tuesday was driven by concerns over the emergence of Chinese startup DeepSeek, which posed a challenge to the dominance of Western artificial intelligence leaders. Meanwhile, minutes from the Bank of Japan's December meeting revealed that the central bank maintained a cautious stance on monetary policy, emphasizing that any adjustments would...
U.S. stocks rebounded on Tuesday, led by the Nasdaq's 1.5% surge, as technology shares recovered from Monday's AI-driven sell-off triggered by Chinese startup DeepSeek's announcement of a competitive AI model. Nvidia surged 8.8%, recovering part of its historic 17% single-session loss that erased $593 billion in market value. Broadcom and Oracle added 2.6% and 3.6%, respectively, amid broad tech strength. The S&P 500 climbed 0.9%, supported by its technology sector, while Appleand Microsoft advanced 3.7% and 2.9%, respectively ahead of its earnings release. Meanwhile, Royal Caribbean...
European stocks closed higher on Tuesday, rebounding from the losses in the previous session as markets continued to assess the outlook on GPU and AI infrastructure demand following yesterday's tech selloff. The Eurozone's STOXX 50 added 0.3% to close at 5,203 and the STOXX 600 closed 0.5% higher at a record high of 532. Selected tech stocks remained in the spotlight after claims from Chinese-developed LLM DeepSeek that it attains comparable results to US counterparts with a fraction of computing power triggered a selloff for companies with exposure to speculation of higher AI infrastructure...
Europe's major bourses tried to recover on Tuesday, with the STOXX 50 trading flat to higher and the STOXX 600 up 0.2%, following losses in the previous session, which were driven by concerns over rising AI competition from China that sparked a selloff in the tech sector. ASML Holding rose 0.5%, after dropping 7.5% on Monday, and Infineon rose 0.1%, after dropping 2%. Meanwhile, investors also turned their attention to corporate earnings. SAP shares rose about 2% after the company revised its operating profit outlook higher to €10.6 billion and said it met or exceeded all of its 2024...
The Hang Seng closed 0.14% higher at 20,225 on Tuesday (1/28) in a half-day session ahead of the Lunar New Year celebrations. The index marked its third straight session of gains, largely supported by technology advances and consumer spending. Traders were closely following developments on Chinese startup DeepSeek's affordable AI model, as its emergence raised concerns about U.S. dominance in the tech sector. China Vanke Co. jumped 2.1% after overhauling its management, following assurances from Chinese authorities to support the troubled builder. Xiaomi Corp. ended at a record high, jumping...
Japanese stocks fell after the close on Tuesday (1/28), as losses in the Nonmetallic Minerals, Communications and Electrical/Machinery sectors led shares lower. At the close in Tokyo, the Nikkei 225 was down 1.43%. The best performers on the Nikkei 225 were Sumitomo Realty & Development Co. (TYO:8830), which rose 5.12% or 263.00 points to trade at 5,395.00 at the close. Meanwhile, Nintendo Co Ltd (TYO:7974) rose 4.67% or 457.00 points to close at 10,250.00 and Oriental Land Co Ltd (TYO:4661) gained 4.14% or 146.00 points to 3,675.00 in late trade. The worst performers on the session...
Shares in Hong Kong were little changed on Tuesday morning, hovering around 20,210 after gaining in the prior two sessions. Trading was notably sluggish, with markets set to close early as the Lunar New Year looms large. Meanwhile, US futures pulled back after a Monday sell-off on Wall Street fueled by mounting concerns over investment in the AI sector, following the emergence of Chinese startup DeepSeek. On the trade front, Hong Kong's export growth notched a 4-month high in December while imports fell for the first time in 10 months. For the week, the Hang Seng is on track to gain for...
The Nikkei 225 Index dropped 1.4% to around 39,000, while the broader Topix Index lost 0.6% to 2,740 on Tuesday, extending losses from the previous session. Chip-related stocks linked to the US AI value chain led the decline, following concerns that Chinese startup DeepSeek could challenge the dominance of US AI leaders. Local stocks also continued to be pressured by a hawkish stance from the Bank of Japan. On Friday, the central bank raised interest rates and revised its inflation forecasts higher, signaling the possibility of further rate hikes. Investors are now focused on upcoming...
Gold rises in the early Asian trade. There's a broad commodities uptrend, driven by macro uncertainty, a weaker dollar, and persistent demand for "hard" assets, says Fawad Razaqzada, market analyst...
Oil extended declines after OPEC+ agreed to a bigger-than-expected production increase next month, raising concerns about oversupply just as US tariffs fan fears about the demand outlook.
Brent...
The Japanese Yen (JPY) weakened against its US counterpart and reversed part of Friday's recovery from the lowest level since July 23 following Bank of Japan (BOJ) Governor Kazuo Ueda's remarks....