The Hang Seng Index reversed its downward trend in Hong Kong on Thursday (February 12th), weakening by around 0.9% to around 27,000 after a strong session earlier. This decline halted the momentum of the short term rally, as investors began to reduce risk in large cap stocks. Among the index's contributors, Tencent was a major drag, with its shares falling by around 2.3%, putting pressure on the technology sector, which has recently been a driving force behind market gains. Weakness in large cap companies like this typically quickly impacts sentiment due to their significant weighting in...
Japanese stocks rose after the close on Wednesday (1/29), as gains in the Services, Transportation Equipment and Transportation sectors boosted shares. At the close in Tokyo, the Nikkei 225 was up 1.02%. The best performers on the Nikkei 225 were Renesas Electronics Corp (TYO:6723), which rose 5.85% or 119.50 points to close at 2,162.50. Meanwhile, Dainippon Screen Mfg. Co., Ltd. (TYO:7735) rose 4.61% or 470.00 points to close at 10,675.00 and Advantest Corp. (TYO:6857) gained 4.36% or 356.00 points to close at 8,518.00. The worst performers of the session were Shin-Etsu Chemical Co.,...
Japanese stocks rebounded on Wednesday, with the Nikkei 225 Index climbing 1% to around 39,400 and the broader Topix Index rising 0.4% to 2,768, recovering from losses in the previous session when technology stocks faced a selloff. The decline on Tuesday was driven by concerns over the emergence of Chinese startup DeepSeek, which posed a challenge to the dominance of Western artificial intelligence leaders. Meanwhile, minutes from the Bank of Japan's December meeting revealed that the central bank maintained a cautious stance on monetary policy, emphasizing that any adjustments would...
U.S. stocks rebounded on Tuesday, led by the Nasdaq's 1.5% surge, as technology shares recovered from Monday's AI-driven sell-off triggered by Chinese startup DeepSeek's announcement of a competitive AI model. Nvidia surged 8.8%, recovering part of its historic 17% single-session loss that erased $593 billion in market value. Broadcom and Oracle added 2.6% and 3.6%, respectively, amid broad tech strength. The S&P 500 climbed 0.9%, supported by its technology sector, while Appleand Microsoft advanced 3.7% and 2.9%, respectively ahead of its earnings release. Meanwhile, Royal Caribbean...
European stocks closed higher on Tuesday, rebounding from the losses in the previous session as markets continued to assess the outlook on GPU and AI infrastructure demand following yesterday's tech selloff. The Eurozone's STOXX 50 added 0.3% to close at 5,203 and the STOXX 600 closed 0.5% higher at a record high of 532. Selected tech stocks remained in the spotlight after claims from Chinese-developed LLM DeepSeek that it attains comparable results to US counterparts with a fraction of computing power triggered a selloff for companies with exposure to speculation of higher AI infrastructure...
Europe's major bourses tried to recover on Tuesday, with the STOXX 50 trading flat to higher and the STOXX 600 up 0.2%, following losses in the previous session, which were driven by concerns over rising AI competition from China that sparked a selloff in the tech sector. ASML Holding rose 0.5%, after dropping 7.5% on Monday, and Infineon rose 0.1%, after dropping 2%. Meanwhile, investors also turned their attention to corporate earnings. SAP shares rose about 2% after the company revised its operating profit outlook higher to €10.6 billion and said it met or exceeded all of its 2024...