Asian stock markets were mostly higher on Friday, tracking broadly positive overnight cues from Wall Street, with strong gains in Japan and South Korea as technology and semiconductor stocks rebounded from a recent sell-off over concerns about rising costs of financing AI investments. Asian markets mostly ended lower on Thursday. Despite hotter-than-expected US inflation data released over the past two days, CME Group's FedWatch Tool suggests the US Federal Reserve is still likely to leave rates unchanged later this month.
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- Asian Markets Track Wall Street Higher
Asian stock markets are mostly higher on Friday, following positive cues from Wall Street, with strong gains in Japan and South Korea as technology and semiconductor stocks rebound after a recent sell-off over rising costs of financing AI investments. Markets in Asia mostly ended lower on Thursday. Despite hotter-than-expected US inflation data over the past two days, CME Group's FedWatch Tool suggests the Federal Reserve will likely leave rates unchanged later this month.
- Asian Markets Track Wall Street Higher
Asian markets were mostly higher on Friday, tracking positive cues from Wall Street, with strong gains in Japan and South Korea as technology and semiconductor stocks rebounded from a recent sell-off over concerns about rising costs of financing AI investments. Despite hotter-than-expected US inflation data, CME Group's FedWatch Tool suggests the Federal Reserve is still likely to leave rates unchanged this month. Escalating Middle East conflict pushed crude prices higher after two commercial vessels in the Strait of Hormuz were struck by projectiles, and Yemen's Houthis vowed to press on with attacks on airports and oil facilities in Saudi Arabia after hitting Aramco's headquarters. The S&P/ASX 200 rose 0.85% to 8,793.60, led by mining and technology stocks such as BHP, Block and WiseTech Global. The Nikkei 225 climbed 1.75% to 65,550.68, snapping a six-session losing streak.
- Asian Markets Track Wall Street Higher
- SK Hynix, SoftBank shares plunge as tech stocks in Asia track Wall Street chip sell-off
Asian technology stocks fell on Tuesday as a U.S. chip sell-off spread to regional markets, with worries over AI financing and rising competition weighing on sentiment. South Korea's SK Hynix dropped more than 8% and Samsung Electronics fell 7.9%, both hitting their lowest intraday levels since August, while Japan's SoftBank Group sank 8.03%. Other Japanese chip and equipment stocks also declined after the Nasdaq Composite fell 0.44% on Monday. Micron Technology slid 3.9% as investors weighed competition from China's ChangXin Memory Technologies (CXMT), which reported progress on a new chip structure that boosts memory density. Analysts quoted in the article said the sell-off reflected broader anxiety over the AI trade rather than a fundamental shift, since CXMT has yet to reach large-scale production and still lags in HBM, while the Intel and Broadcom CEOs warned that access to capital could become a headwind for the AI boom.
- Asian stocks skid , Wall Street and bonds aided by oil slip
Asian shares fell on Monday, October 19, as worries about AI's huge funding needs weighed ahead of a busy earnings week, while the euro eased after rioting in France. Oil prices dropped after Trump waived some Russia sanctions, though he later said no final decision had been made, with Brent down 1.6% to US$108.06 a barrel; Iran also reported another tanker hit a mine in the Strait of Hormuz. Tech weakness hit Asia, with Japan's Nikkei down 2.0% and South Korea down 1.6%, after the PHLX Semiconductor Index shed 11.4% last week, its longest losing streak since 2008. Goldman Sachs estimates five AI hyperscalers will lift capital spending to about US$1.2 trillion next year, while AMP economist My Bui warned that rising yields raise financing costs. Gold rose 0.4% to US$4,181 an ounce as yields fell.
- Wall Street's fear gauge is ripping. Traders see it going even higher
The VIX rose above 22 for the first time in four months as AI stocks sold off, while the Nasdaq shed 2% in its worst day since June 5 and CoreWeave lost 13%. A cluster of November VIX call purchases suggests traders are betting the index will close above 23 by the third week of November, with one trader buying 9,200 November 18 20-strike calls for $1.7 million and 12,500 November 18 23-strike calls for $1.1 million. Nine of the top ten most-traded VIX contracts were calls, with nearly $27M in premium, about 36% of the day's total VIX options premium. The market faces a key test next week when Tesla, SpaceX and Meta report earnings.
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