US stocks closed sharply higher on a triple-witching Friday, with the S&P 500 rising 0,9%, the Nasdaq 100 gaining 1.4%, and the Dow Jones adding more than 180 points, extending gains from the previous session as technology stocks outperformed. The AI-related trade showed signs of recovery, led by Oracle, whose shares jumped more than 7% after TikTok agreed to sell its US operations to a new joint venture involving Oracle and private-equity firm Silver Lake. Micron Technology advanced 7%, building on its 10% surge on Thursday. Also, Nvidia shares climbed more than 3% after Reuters...
The Japanese stock market closed lower on Friday, with the Nikkei 225 index falling 2.30%. The paper & pulp, transportation, and communications sectors were the main drags on the index. Despite the steep decline, the market mood wasn't entirely negative, as several large stocks still rallied. Among the top gainers, M3 Inc rose 6.9%, Obayashi Corp surged nearly 5% to hit an all-time high of 3,125, and Nitori Holdings rallied around 4.1%. Overall, the number of stocks rising was far greater: 2,522 rose, 1,117 fell, and 190 remained unchanged on the Tokyo Stock Exchange. This means that...
The Hong Kong stock market opened lower in the morning session, with the benchmark Hang Seng Index falling 375 points, or 1.45%, to 25,460. Selling pressure was felt across the entire market. The Hang Seng China Enterprises Index fell 1.43% to 9,012, while the Technology Index fell further, down 2.2% to 5,451. Technology stocks were the main market bearish. Tencent fell around 1.7%, Alibaba fell more sharply, by around 3.1%, and Meituan fell 1.5%. Xiaomi and JD.com both fell 2.3%, while Kuaishou Technology also fell by around 1.6%. The weakness in this sector indicates that investors remain...
Japan's Nikkei index fell 2.2% to 48,720.59 in morning trading, following a sharp decline on Wall Street overnight. Negative sentiment was still fueled by renewed concerns about a potential "bubble" in AI-based stocks, prompting investors to reduce exposure to riskier assets. The technology and banking sectors were the main drags on the index. Panasonic shares fell around 1.2%, while Mizuho Financial fell 0.8% and Mitsubishi UFJ Financial slipped 1.5%. Several consumer stocks also suffered, with Fast Retailing down 0.4%. In the foreign exchange market, currency movements were relatively...
US stocks erased gains to close at one-month lows on Thursday amid the outlook of higher interest rates by the Federal Reserve, as markets reassessed risks that high valuations for AI companies are unwarranted. The Nasdaq 100 lost 2.4% while the S&P 500 fell 1.5% and the Dow was 350 points lower. Delayed employment data from the BLS, set to be the last before the FOMC's December meeting, reflected stronger than expected job growth to consolidate expectations that the Fed will hold rates unchanged next month. In the meantime, Nvidia dropped 3.2% after trading as high as 5% at the...
European markets closed higher on Thursday as investors reacted to strong earnings by artificial intelligence darling Nvidia. The pan-European Stoxx 600 was up 0.5% by the end of the session, with most bourses and sectors in positive territory. AI-related stocks were amongst those making gains, with Dutch semiconductor firms BESI and ASMI up 0.7% and 0.8%, respectively. Fellow Dutch firm ASML, which makes critical equipment for semiconductors, ended almost 0.4% higher. Nvidia posted third-quarter results after the bell on Wednesday, topping forecasts for revenue and its fourth-quarter...