Hong Kong shares dropped 371 points, or 1.4%, to 25,258 Tuesday morning's session, extending steep losses from the previous day as all sectors retreated. Risk appetite was burdened by declines in mainland markets after weak November data showed fragile industrial output and retail turnover amid soft external demand and shaky domestic conditions. Local equities neared their lowest in a week, following a negative lead from Wall Street, where AI and tech weakness persisted. Losses were partly offset by domestic data showing Hong Kong's manufacturing output rose for a fourth straight quarter in...
The Japanese stock market opened lower after sentiment in technology stocks, particularly semiconductors, worsened. The trigger came from Broadcom's disappointing sales outlook, coupled with reports that Oracle was delaying the completion of several data centers—aggravating market concerns about the magnitude of AI investments and the timing of their return. As a result, the Nikkei 225 fell 1.2% to 50,246.58, while the Topix index was flat at 3,423.70 in Tokyo morning. Amid the tech pressure, investors are turning to safer sectors such as pharmaceuticals and food. Financial stocks are also...
Asian markets opened lower in the last full trading week of 2025, fueled by concerns about the prospects for tech company profits and growing AI spending. The MSCI regional stock index fell around 0.4%, while South Korea, which has been riding the "AI euphoria" for some time, fell more than 2%. In the US, index futures fluctuated slightly after Wall Street closed lower on Friday, led by weakness in tech stocks. Bitcoin also slumped, dropping to around US$88,000. Global risk-on sentiment is waning as investors begin to question whether tech stocks are still worth their high prices and...
US stocks closed sharply lower on Friday as a Broadcom-led rout among the largest tech weights sparked a rotation into cyclicals and defensive names. The S&P 500 fell 1% and the Dow gave back 0.4% after touching record highs, while the Nasdaq dropped 1.8%, with Broadcom plunging 11.4% after warning of margin pressure. Other heavyweight, AI-exposed and semiconductor names also posted steep losses, including Nvidia (-3.3%), Oracle (-4.5%), Palantir (-2.1%), AMD (-4.8%), and Micron (-6.7%) setting the pace for a sharp selloff in the sector. The pullback reflects margin concerns and growing...
Europe's benchmark index dropped on Friday, retreating from the edge of a record high as a selloff in US technology stocks weighed on global gauges. The Stoxx Europe 600 declined 0.5%, reversing earlier gains. The index ended the session within just over 1% of its November closing record. Travel and leisure as well as utilities stocks outperformed, while banks and basic resources led declines. UBS Group AG shares rose 2.5% to the highest level since 2008, after a group of center-right Swiss lawmakers proposed a compromise solution in the debate over the group's...
The STOXX 50 rose 0.5% and the STOXX 600 gained 0.3% on Friday, marking a second consecutive session of increases and tracking global optimism after the Federal Reserve cut the fed funds rate and struck a less hawkish tone than expected. Bank stocks were among the top performers: BNP Paribas climbed 1.4% after announcing it is in exclusive talks to sell its 67% stake in its Moroccan subsidiary BMCI to Holmarcom Group, while HSBC Holdings (+1.8%), UBS (+4.4%), and Barclays (+1.3%) also advanced. In the retail sector, Adidas (+2.4%) and Puma (+4.5%) recorded solid gains following Lululemon...