Asian stock markets opened cautiously at the start of the week, with the MSCI Asia Pacific index rising slightly by 0.2%. The Kospi led the gains, while Japan's Nikkei index fell 0.5% after data showed the Japanese economy contracted again. Japanese retail and tourism stocks also weakened due to escalating tensions with China. US stock futures rose 0.3%, providing some positive sentiment. Investors are now awaiting a slew of US economic data, which returns after a long pause due to the shutdown, including the jobs report. At the same time, risk appetite appears to be weakening as AI stock...
The three major US stock averages fluctuated between small gains and losses on Wednesday, attempting to rebound from Tuesday's weak session, when concerns over lofty AI valuations weighed on sentiment while earnings remained in focus. The tech sector stayed under pressure, while materials and energy outperformed. AMD slipped 1.7% after issuing a revenue forecast that failed to impress investors, and Super Micro Computer tumbled 7.3% following a weaker-than-expected earnings outlook for the current period. Palantir Technologies extended losses, falling 2.3%. Nvidia edged down 0.2%, while...
European stocks opened lower on Wednesday (November 5th), reflecting a global downturn amid growing concerns over sky-high tech valuations. The pan-European Stoxx 600 Index was down 0.4% at 8:20 a.m. in London (3:20 a.m. ET), with most major bourses and sectors in the red. The UK's FTSE 500 Index opened 0.1% lower, Germany's DAX 0.7% lower, France's CAC 40 0.4% lower, and Italy's FTSE MIB 0.3% lower. European tech companies led the decline, with the Stoxx Europe 600 Technology Index down 1.2% following a sharp sell-off in U.S. tech stocks on Tuesday. The sluggish sentiment seen in...
The Hang Seng Index fell 17 points, or 0.1%, to close at 25,935 on Wednesday (November 5), marking its second session of decline after Wall Street plunged on valuation concerns on Tuesday. Technology and property stocks led the decline, amid caution ahead of key Chinese data, including October trade figures on Friday and the inflation release on Sunday. Meanwhile, a private survey showed China's services sector grew at its slowest pace in three months in October, due to weak foreign demand and continued layoffs. However, the market pared initial losses after Premier Li Qiang's statement,...
Japanese stocks fell sharply on Wednesday: the Nikkei 225 fell 2.5% to 50,212, and the Topix dropped 1.26% to 3,268. The sell-off was led by technology stocks amid growing concerns about AI valuations. Sentiment became even more fragile after Wall Street executives warned of a potential market correction in the next two years, coupled with uncertainty about the direction of US interest rate cuts. Technology was the main drag: SoftBank Group fell 10% due to its heavy exposure to AI and technology investments. Chip and semiconductor equipment stocks also suffered: Advantest (-6%), Lasertec...
Hong Kong stocks continued their decline on Wednesday, with the Hang Seng Index falling 1.1% to 25,664.92, after losing 0.8% in the previous session. The decline was driven by weakness in major technology stocks such as Alibaba, JD.com, and Tencent, which fell 2.2%, 1.4%, and 1.2%, respectively. Market sentiment was also affected by concerns about an artificial intelligence (AI) bubble and uncertainty regarding the Federal Reserve's interest rate policy, which further curbed investor risk appetite. This decline mirrored weakness in the US market after Palantir Technologies shares fell...