The S&P 500 and the Dow Jones were down for a fourth consecutive session on Tuesday, losing 0.5% and 0.8% respectively while the Nasdaq decreased 0.6%. Traders remained in a risk-off mood amid renewed concerns over high valuations in AI and tech stocks, ahead of Nvidia's earnings report. Consumer discretionary was the biggest laggard while consumer staples outperformed. Nvidia (-1.4%), Microsoft (-1.5%), Amazon (-1.9%) and Meta were sharply lower and Home Depot tumbled more than 4% after cutting its full-year profit forecast. Investors are also watching the resumption of key economic...
Japanese stocks closed lower on Friday after the semiconductor sector was hit by a sell-off due to concerns about overvaluation and a weakening Philadelphia Semiconductor Index. The Topix fell 1.8% to 3,197.59, while the Nikkei fell 1% to 48,088.80. Sony Group was the biggest drag on the Topix, falling 4%. Of the 1,672 stocks on the Topix, 155 rose, 1,490 fell, and 27 remained unchanged—indicating widespread selling pressure. In corporate stocks, Seven & i fell 3.5% after cutting its full-year forecast below analyst expectations due to a weakening domestic convenience store business....
The Hang Seng Index fell 0.9% to 26,518.27 on Friday morning (9:50 a.m. local time), following a pause in the Wall Street rally and concerns that AI hype has led to overpriced valuations. The biggest pressure came from large tech stocks: Baidu -3.2%, Alibaba -2.2%, JD.com -1.9%, followed by Li Auto -3.3% and Zijin Mining -4.5%. The Hang Seng Tech Index also fell 2.3%, putting the Hang Seng on track for its worst weekly decline in 10 weeks. Several stocks held off further losses: Pop Mart +1.6%, Trip.com +0.2%, and Hang Seng Bank +0.2%—continuing the previous day's 26% surge following HSBC's...
The Nikkei index weakened 0.4% to 48,397.29 in early trading, following Wall Street's overnight decline that sparked risk-off sentiment. According to Commerzbank Research analysts, the market is still searching for new catalysts amid a lack of US data releases due to the government shutdown, so the short-term direction is likely cautious. Several stocks led the decline: SBI Holdings -3.6%, Sugi Holdings -3.3%, and Sumitomo Forestry -2.7%. In the forex market, USD/JPY was around 153.15 (vs. 153.08 in New York), indicating a persistently weak yen—a factor that typically helps exporters, but...
Asia-Pacific markets mostly weakened on Friday, following Wall Street's decline as investors assessed economic conditions. The Nikkei 225 fell 0.33% and the Topix fell 0.92%; Australia's ASX 200 fell 0.26%. Hang Seng futures signaled a lower open at 26,354 (vs. the previous close of 26,752.59). In Korea, the Kospi closed 0.66% after a holiday, while the Kosdaq fell 0.37%. In the US overnight, the rally paused as the S&P 500 and Nasdaq Composite retreated from intraday records. The general market index fell 0.28% to 6,735.11 and the tech index fell 0.08% to 23,024.63, while the Dow Jones...
US stocks pulled back on Thursday as investors paused to digest optimism around AI, interest-rate cuts, and the ongoing government shutdown. The S&P 500 lost 0.3%, the Nasdaq 100 down 0.1%, retreating from record highs reached in the prior session, and the Dow Jones fell 243 points. Market sentiments fell due to the shutdown, which has delayed key economic data, shifting focus to upcoming third-quarter earnings for insights into the economy and the AI-driven rally. Apple, Alphabet, Tesla, and Walmart all lost more than 0.7%, while PepsiCo rose 4.2% after stronger-than-expected revenue...