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...
Both the STOXX 50 and the STOXX 600 slipped 0.2% on Thursday, marking a third straight session of losses for the former. Weak sales and profit forecasts from Oracle weighed on the tech sector, overshadowing relief from the Federal Reserve's latest interest rate cut and its signal that one more reduction is expected in 2026. Tech shares were broadly lower, with ASML Holding down 1.2%, SAP off 2.8%, Infineon Technologies slipping 0.6%, and Dassault Systèmes easing 0.4%. Ocado Group dropped more than 4.5%, pulling back after strong gains in the previous session, while Sartorius declined 2%....
The Hang Seng edged down to finish at 25,530 on Thursday, reversing early gains amid declines in tech and consumer stocks. Sentiment weakened as Chinese markets fell for a third consecutive session after Mexico approved a new tariff package, many from China, with rates of up to 50% starting January 1, 2026. The levies target hundreds of products such as metals, vehicles, clothing, and appliances. At the same time, concerns grew that Beijing might delay stronger property stimulus after the December Politburo meeting made no mention of urbanization, with analysts expecting any major steps...
The Nikkei 225 index closed down around 0.9% at 50,150 on Thursday, down nearly 450 points from the previous day. The main pressure came from the technology sector and stocks related to the AI/chip theme, with shares of giants like SoftBank plunging sharply after global sentiment toward AI spending wavered following Oracle's disappointing financial report. Regionally, Asian markets also tended to be mixed to weaker despite earlier gains on Wall Street, limiting room for upside in the Nikkei. From a fundamental perspective, the Japanese market is being squeezed in two directions: on the one...
Hong Kong stocks rose around 201 points (0.8%) to 25,733 in Thursday's morning session, extending their gains for a second day. This rise was driven by positive sentiment from Wall Street after the Fed cut interest rates in line with market expectations. Traders remain hopeful of further easing, although the US central bank has signaled a temporary pause. In Hong Kong, the Hong Kong Monetary Authority followed the Fed's lead and cut interest rates to their lowest level since October 2022, keeping Hong Kong's monetary policy in line with the US. Gains were broad-based, particularly in the...
Asia-Pacific markets opened higher on Thursday morning after the Federal Reserve delivered its third interest rate cut this year. The Fed cut the Fed Funds Rate by 25 bps to a range of 3.5%–3.75% and signaled that the rate-cutting cycle may be temporarily paused. Fed Chairman Jerome Powell emphasized that they are now in a "comfortable" position to wait and see economic developments, while highlighting that President Donald Trump's tariffs are actually a driver of inflation. In the region, positive sentiment was immediately reflected in major stock indices. Japan's Nikkei 225 opened...