Asian Shares Mostly Rise on AI Chip Demand Despite Wall Street’s Retreat on Inflation Data
Tech shares rose in Tokyo, Seoul and Taipei, while hotter-than-expected US consumer prices renewed bets on a larger Federal Reserve rate hike.
- On Wednesday, Asian shares rose as optimism over artificial intelligence gains offset concerns from U.S. inflation data that exceeded the 0.3% forecast.
- U.S. consumer prices rose 0.4% in October, surpassing the 0.3% forecast as food and medical costs increased, fueling persistent economic pressure.
- Anthropic seeks a valuation of roughly $1.3 trillion in its upcoming IPO, while data center operator CoreWeave reported quarterly sales reaching $13.3 billion.
- Investors fear the Federal Reserve may hike interest rates in December, with Chicago Fed boss Austan Goolsbee calling the inflation report "another distressing report, borderline disturbing."
- Nvidia shares fell 5.5% as the chipmaker faces an FBI investigation into CEO Jensen Huang, who acknowledged an affair with a purported Chinese spy.
21 Articles
21 Articles
Asian markets diverge as U.S. CPI elevates Fed rate hike expectations;
Asian equity markets delivered a mixed performance following overnight pressure on Wall Street, where hotter-than-expected U.S. inflation data cemented expectations for a Federal Reserve rate hike.
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Asian shares mostly rise on AI chip demand despite Wall Street’s retreat on inflation data
Asian shares are mostly higher Wednesday, following a retreat on Wall Street as the U.S. inflation rose higher than expected in October. Benchmarks in Japan, South Korea, Taiwan extended weekly gains. Markets in Hong Kong and Shanghai were traded lower. Singles’ Day retail sales will offer a gauge of consumer demand in the world’s second-largest economy. Australian stocks edged higher after earlier losses. On Tuesday, the S&P 500 slipped 0.4%. T…
Asian shares mostly rise on AI chip demand despite Wall Street's
HONG KONG (AP) — Asian shares were mostly higher Wednesday, following a retreat on Wall Street as U.S. inflation rose higher than expected in October, while U.S. futures edged higher and oil prices rose. Taiwan led the
Asian stocks fluctuate as US rate worries temper tech bounce
After last week's rout fuelled by fears that Democrats would ramp up regulation of artificial intelligence, beaten down tech stocks have bounced this week on bargain-buying and a feeling their fears may have been overdone. Sentiment was also given a boost by earnings from data centre operator CoreWeave, which said sales would come in at $13-$13.3 billion this year, beating estimates. The news soothed worries about the company's health after suff…
Asian shares mostly rise on AI chip demand despite Wall Street’s retreat on inflation data – WTOP News
HONG KONG (AP) — Asian shares were mostly higher Wednesday, following a retreat on Wall Street as U.S. inflation rose higher than expected in October, while U.S. futures edged higher and oil prices rose. Taiwan led the regional markets as its benchmark’s Taiex rose 2.1%. Taiwan Semiconductor Manufacturing Co., or TSMC, climbed 3.1% after the...
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