South Korea's Kospi led losses across Asia, while the Nikkei fell 4.8%, as hotter-than-expected US inflation weighed on rate-cut hopes and renewed pressure on technology and AI-linked stocks
Among firms in the AI supply chain, chipmakers Samsung Electronics and SK Hynix rose more than 2% in South Korea while Kioxia was steady in Japan
In stocks, MSCI's broadest index of Asia-Pacific shares outside Japan fell 2% in early trading, with tech-heavy South Korea's KOSPI sliding 6%
South Korean stocks fell 1.1%, while MSCI's broadest index of Asia-Pacific shares outside Japan was little changed
Asian equities came under pressure as rising oil prices pushed up bond yields, while plans by SpaceX, Broadcom, and Oracle to raise billions added to funding concerns
In Asia, MSCI's broadest index of Asia-Pacific shares excluding Japan was down 0.3% after US stocks ended higher. The index is up 1.5% so far this month
The euro languished near 17-month lows after briefly touching $1.116 overnight, pressured by mounting fiscal concerns in France
Bond markets were again the centre of volatility overnight, with the benchmark 10-year US Treasury yields hitting the highest since 2002 at 5.34% after capping the biggest quarterly rise in 32 years
Japan's Nikkei jumped 2.4 per cent in early trade, while South Korea and Hong Kong also gained as investors favoured chip and AI-related stocks
Asian shares were trading mixed Monday after a cooldown in oil prices last week helped US stocks close out their first winning week in the last three. Japan's benchmark Nikkei 225 was little changed, inching down less than 0.1% to 66,333.53. Australia's S&P/ASX 200 added 0.3% to 8,688.60. South Korea's Kospi dipped 2.3% to 6,916.30. Hong Kong's Hang Seng rose 0.7% to 24,684.09, while the Shanghai Composite lost 1.7% to 3,820.82. In energy trading, benchmark US crude gained 1% to $93.33 a barrel. Brent crude, the international standard, rose 1.8% to $106.19 a barrel. Last week, Brent oil had momentarily dropped to $97-levels. The price is volatile because of uncertainty about when the war with Iran will allow oil to flow freely again from the Middle East, including access to the Strait of Hormuz. On Wall Street, the S&P 500 added 0.5% to break a three-day losing streak marked by big swings due to rising yields in the bond market. The Dow Jones Industrial Average added 478 ...
Asian shares held steady as a global bond selloff pushed long-term US yields to multi-year highs
Renewed buzz over AI helped South Korean stocks gain 1.2%, with Samsung and SK Hynix both up over 2%
Attention is also turning to a high-stakes meeting between Donald Trump and Xi Jinping later this week
Japan's Nikkei was shut but futures rose 0.5%, while South Korea's tech-heavy index gained 1.1%
Traders also took their cues from a rally on Wall Street overnight, led by beaten-down tech stocks
Asian shares were mixed on Thursday after Wall Street closed lower following the Federal Reserve's interest rate hike decision for the first time in three years. US futures were higher. The quarter of a percentage point increase brings the Fed's key rate to a target range of 3.75%-4.00%, as it attempts to control US inflation that's been stubbornly above its target. Japan's Nikkei 225 index was 0.2% higher at 64,067.53. South Korea's Kospi gained 0.9% to 6,778.49. The Hong Kong Hang Seng fell 0.7% to 24,533.46, while the Shanghai Composite index lost 0.4% to 3,877.46. Australia's S&P/ASX 200 climbed 0.3% to 8,718.20. Taiwan's Taiex jumped 1.3%, while India's Sensex edged up 0.3%. On Wednesday, Wall Street's benchmark S&P 500 dropped 0.5%. The Dow Jones Industrial Average fell 1.2%, and the technology-heavy Nasdaq composite was mostly unchanged. Market reactions were "pretty much expected since the rate rise was also in line with market expectation," said Lorraine Tan, director
Overnight on Wall Street, the S&P 500 slumped 0.5%, marking its second consecutive day of declines as the yield on the 10-year Treasury bond hit its highest level since 2007
Asian equities struggled as investors assessed rising oil prices, West Asia tensions and concerns over AI development ahead of key US and Japan central bank meetings
SoftBank, Kioxia, SK Hynix and other AI-linked stocks fell in Asian trade after Anthropic's Dario Amodei, Elon Musk and Sam Altman backed calls to slow AI development
With shipping through the strait and the Bab el-Mandeb under threat, analysts fear oil prices could stay elevated for a lengthy period, stoking inflation globally