Asian Stocks Take Another Hit From AI, Middle East Worries
Broadcom’s weak AI revenue outlook and stalled U.S.-Iran talks triggered profit-taking, with South Korea’s KOSPI briefly falling nearly 7%, analysts said.
- Asian shares fell on Friday as investors turned defensive, with tech-heavy Seoul and Tokyo retreating from record highs amid disappointing tech-sector results and general geopolitical uncertainty.
- Broadcom tumbled more than 12 percent after reporting underwhelming revenue forecasts, sparking profit-taking across the AI-driven semiconductor sector as investors questioned if recent valuation gains were overextended.
- The Iran-backed Hezbollah rejected a new ceasefire in Lebanon on Thursday, while talks between Iran and Washington appeared stalled despite President Donald Trump stating a deal "could happen... over the weekend."
- South Korean markets tanked nearly 7 percent, with Samsung Electronics falling 3.56 percent and SK hynix sinking 5.96 percent; LG Electronics shed 8.23 percent while Hyundai Motor dropped 3.14 percent.
- Investors are monitoring U.S. nonfarm payrolls data while considering Elon Musk's SpaceX IPO, which aims to raise $75 billion next week and could value the firm at $1.8 trillion.
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ZawyaStocks drop as US-Iran peace talks stall, AI rally cools
LONDON, June 5 : Shares slid on Friday as investors turned defensive ahead of the weekend, wary of the flare-up in Middle East hostilities with U.S.-Iran peace talks in limbo.The Iran-backed Hezbollah militia rejected a new ceasefire in Lebanon on Thursday and Israel said it would not withdraw troops from th
Asian stocks take another hit from AI, Mideast worries
Asian equities went into reverse Friday on continued worries about the AI trade after disappointing forecasts from chip titan Broadcom, while investors were also keeping a wary eye on stuttering Middle East peace efforts.
Global Stocks Slide as AI Rally Fades and US Iran Peace Talks Stall
Global financial markets retreated sharply after two major drivers of investor sentiment shifted simultaneously. First, concerns emerged about whether the artificial intelligence boom that has powered stock market gains over the past year can continue at the same pace. Chipmaker Broadcom’s earnings failed to meet the exceptionally high expectations that investors had attached to AI-related […] The post Global Stocks Slide as AI Rally Fades and U…
The KOSPI fell to the 8,000 mark at one point during trading on the 5th, dragged down by weakness in U.S. semiconductor stocks. This followed a sell-off across global semiconductor stocks triggered by disappointment after U.S. semiconductor firm Broadcom released earnings forecasts that fell short of market expectations. Additionally, analysts suggest that global investors engaged in massive profit-taking on the KOSPI, which had surged in the sh…
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