Asian Trading Is Mixed as Worries About AI-Related Issues Grow – WTOP News
Alphabet’s post-earnings slide deepened concern that AI spending may not justify valuations, while Samsung’s profit miss and weak chip shares added pressure.
- On October 30, Japan's Nikkei 225 dropped 2.6 percent as investor concerns mounted over the sustainability of spending to fund the artificial intelligence boom.
- Asian shares faltered after Alphabet's 12.6 percent stock decline dragged on United States markets, prompting Nomura Securities equities strategist Maki Sawada to warn of "growing concerns regarding the profitability of AI investments."
- Chip equipment heavyweights Advantest and Tokyo Electron plunged 9.1 percent and 5.6 percent respectively, while Samsung Electronics' 107.4 trillion won third-quarter operating profit fell short of estimates.
- While broader markets declined, game maker Konami jumped 15.3 percent on October 30 to become the Nikkei's biggest percentage gainer, even as the Topix fell 1.3 percent.
- Investors now look toward the Bank of Japan's upcoming policy decision, while analysts monitor refinancing risks for loans originated during 2020-22 as global interest rates remain elevated.
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53 Articles
The shares of global technology companies declined sharply today Friday after the business results of a number of large companies fell short of market expectations.
The Economic Times
Times of IndiaGlobal Market: Japan's Nikkei falls 3% as AI spending concerns hit chip stocks; BOJ holds rates
Japanese shares fell sharply as concerns over the profitability of AI investments sparked a global technology sell-off. The Nikkei 225 dropped as much as 3%, led by steep losses in chip and AI-related stocks. Meanwhile, the Bank of Japan held its policy rate at 1.25% but signalled a hawkish stance, leaving the possibility of a future rate increase open.
Asian trading is mixed as worries about AI-related issues grow – WTOP News
TOKYO (AP) — Asians shares were trading mixed early Friday, as worries about the future of artificial intelligence grew after Alphabet’s stock drop dragged on U.S. markets. Japan’s benchmark Nikkei 225 dropped 2.6% to 62,960.60. The Bank of Japan is closing a two-day monetary policy board meeting, but most analysts expect no action this time...
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