Stocks rose on Monday as Wall Street tried to regain its footing after a week in which the artificial intelligence trade lost some steam. The Dow Jones Industrial Average traded 70 points higher, or 0.2%. The S&P 500 climbed 0.4%, and the Nasdaq Composite advanced 0.6%. AI-related stock Nvidia rose after skepticism around the AI trade put pressure on the broader stock market last week. Some traders even questioned whether there was enough energy to power an infrastructure plan between Nvidia and OpenAI. Nvidia was last up more than 2%. Meanwhile, shares of Electronic Arts jumped more...
The Nikkei 225 climbed 0.27% to 45,755 while the Topix added 0.47% to 3,185 on Thursday, marking a third straight day of gains as investors brushed off a tech-driven selloff on Wall Street. US equities fell for a second session overnight on concerns about record-high valuations, complex interdependencies in the AI sector and uncertainty over the Federal Reserve's policy path. Domestically, minutes from the Bank of Japan's July meeting indicated policymakers remain inclined to raise rates further if economic and price conditions evolve as expected. Investors now await Friday's Tokyo...
The Hang Seng Index started the day with a marginal increase of 17 points or 0.06%, reaching 26,536 points. Concurrently, the H-share index dropped by 5 points or 0.05%, standing at 9,437 points, while the technology index saw a decline of 8 points or 0.13%, closing at 6,314 points. In the tech sector, stock movements were varied: Tencent rose by 0.3%, Alibaba remained unchanged, Meituan dropped by 0.5%, Xiaomi Group remained stable, JD.com rose by 1.8%, and Kuaishou saw a decrease of 1%. Individual developments were observed in financial stocks, with HSBC Holdings rising by 0.3%, AIA...
The Nikkei 225 weakened 0.1% to 45,600, while the Topix gained 0.2% to 3,177 on Thursday, as Japanese equities lacked a clear direction due to pressure on technology stocks. This followed two consecutive days of declines in major US indexes, driven by concerns over record-high valuations and complex interdependencies in the AI sector. Domestically, minutes of the Bank of Japan's July meeting suggested that policymakers remain inclined to raise interest rates further if economic and price conditions develop as expected. Investors are now eyeing Friday's Tokyo inflation data, a key...
Asian stocks traded in a tight range at the open after losses on Wall Street as signs of fatigue crept into the AI-fueled equity rally. Shares in Japan and Australia edged up while those in South Korea retreated. The S&P 500, Nasdaq 100 and a gauge of global stocks each dropped 0.3% Wednesday, extending declines from the prior day. An index of US-listed Chinese companies rallied against the downcast mood on Wall Street to climb 2.8%. Equity-index futures for Hong Kong retreated as the city returns to normalcy after Super Typhoon Ragasa....
US stocks weakened for a second straight day on Wednesday as investors weighed pressure on AI leaders, mixed signals from the Federal Reserve, and profit-taking near record highs. The S&P 500 fell 0.3%, the Nasdaq 100 and the Dow Jones Industrial Average each fell 0.4%, extending Tuesday's decline that ended a three-day winning streak. Nvidia fell nearly 1% after announcing a $100 billion partnership with OpenAI, while Oracle fell 1.7% and Micron Technology slumped 2.9% despite posting higher-than-expected earnings. Conversely, Alibaba's pledge to increase AI spending beyond its initial...