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 Index climbed 0.73% to 42,829 while the broader Topix Index added 0.65% to 3,090 on Thursday, recovering part of this week's losses as chip stocks advanced after Nvidia reported stronger-than-expected earnings and revenue. Still, Nvidia's data center sales missed estimates for a second straight quarter, and the company disclosed no sales of H20 chips to China during the period. On the trade front, Japan's chief negotiator Ryosei Akazawa canceled a planned trip to Washington, where he had been scheduled to discuss Japanese investment in the US. Domestically, attention turns...
Hong Kong shares dropped 256 points or 1.0% to 24,943 on Thursday morning deals, extending losses for the third session and hitting a one-week low amid declines in most sectors, notably consumers, tech, and financials. Sentiment was downbeat as several Chinese brokerages and fund managers reportedly curbed financing and limited purchases to reduce risks from mainland markets, raising doubts over the sustainability of its bullish momentum since April. Concerns also mounted over Nvidia's China business amid ongoing trade barriers from Washington. Still, further losses were partly offset by...
Japanese stocks are likely to weaken on Thursday as the market remains cautious about the impact of US tariffs on corporate earnings. Nvidia's weak earnings outlook could also pressure chip-related stocks. Nikkei futures on SGX fell 0.2% to 42,410. In the forex market, USD/JPY was at 147.27, weakening from 147.75 at the Tokyo close on Wednesday. A slightly stronger yen is usually a headwind for Japanese exporters, adding pressure to equity sentiment. In addition to tariff news, investors are also closely monitoring developments in the Liberal Democratic Party (LDP) leadership election....
The European Union announced Wednesday it aims to fast-track the removal of all tariffs on U.S. industrial goods by week's end, following a newly established framework for a broader trade deal agreed late last month. President Trump has insisted that EU tariffs be lifted before the U.S. reduces duties on European auto exports. The EU's move comes after Trump warned Monday of potential new tariffs and export restrictions on advanced tech and semiconductors, citing digital service taxes abroad that he claims "unfairly target U.S. tech firms." While Trump didn't name specific countries, the...
Asia-Pacific markets traded largely lower Thursday as investors await the Bank of Korea policy decision. Japan's Nikkei 225 slid 0.52%, while the Topix tumbled 0.33%. South Korea's Kospi lost 0.43% and the small-cap Kosdaq dipped 0.15%. Australia's S&P/ASX 200 rose 0.1%. Australian rare earths producer Lynas Rare Earths plans to raise about A$750 million ($488 million) through a discounted share sale to boost its processing and exploration activities. The miner will issue stock at A$13.25, about a 10% discount compared to its last close. The company also announced that its shares have...