Stocks gained on the last trading day of the week on renewed optimism over AI-driven demand, brushing aside the latest flare-up in Middle East tensions. Comments from Japanese Finance Minister Satsuki Katayama sent the yen higher. MSCI’s Asia Pacific equities gauge rose 1.7%, trimming losses for the week to less than 1%. Hong Kong’s Hang Seng Index climbed 1.9%, heading for its best week in more than a year. South Korea’s Kospi — a bellwether for AI investments — jumped 5%, with SK Hynix Inc. among the winners after its $26.5 billion American depositary share offering. A sense of caution, however, prevailed with futures for US and European stocks edging lower. Elsewhere, Japan’s longer-maturity sovereign bonds rose after Katayama said the government wants to encourage pension funds to increase investment in domestic financial assets. The yen gained 0.5% to about 161.65 per dollar. Bloomberg’s gauge of the US currency fell, heading for a second weekly decline. Treasuries rose for a second day, with the benchmark 10-year yield falling one basis point to 4.54%. Gains came as crude oil steadied around $76.70 a barrel after traders judged the US-Iran conflict was unlikely to escalate into a broader disruption to energy supplies. With Middle East tensions appearing contained, investors returned to technology shares on renewed confidence that the AI investment boom remains intact. After a pullback earlier this week, investors saw an opportunity to buy the dip, betting the upcoming earnings season will reinforce expectations for resilient AI-driven growth. Spending by chip companies is one factor that’s luring investors. In the latest capital expenditure announcement, Micron Technology Inc. said it plans to increase spending on new plants in the US to $250 billion to help meet demand fueled by the artificial-intelligence boom. The company’s shares rose 1.1% in extended trading. In Asia, SK Hynix’s ADR sale is expected to help fund growing spending plans amid soaring demand for equipment used in AI computing. The company and Samsung Electronics Co. are poised to ramp up investment in South Korea as part of a government-led initiative worth $880 billion. SK Hynix’s ADRs are set to begin trading Friday on the Nasdaq Global Select Market under the symbol SKHYV, which will change to SKHY when they begin regular trading July 13. Global equities have had a volatile week as chip stocks swung between gains and losses. Friday’s advance helped the MSCI All Country World Index erase a weekly loss and head for a modest gain of 0.1%. Earlier this week, investors unimpressed by Samsung’s 19-fold increase in profit drove technology stocks lower, deepening concerns that the AI-driven rally may have run ahead of itself. In geopolitical news, technical talks between the US and Iran are continuing, according to a US official, following two days of clashes that threatened to shatter an already fragile ceasefire between the two nations.
The US is still committed to finding a solution with Iran, the official said Thursday, speaking on condition of anonymity to discuss the matter. US After Hours WDFC +14.2% higher on earnings; SEI +3.6% to join S&P SmallCap 600; NFLX -1.7% on WSJ report it's considering live TV and bundle offerings; FRMI -16.3% on convertible notes offering
Nikkei +1.61% Hang Seng +1.25% CSI -0.66% Kospi +3.52% Shanghai +0.04% Shenzen +0.28%
Eur$ 1.1440 CNH 6.7823 CNY 6.7794 JPY 161.59 GBP 1.3430 CHF 0.8047 RUB 76.0506 TRY 46.9721 WTI$ 72.39 +0.40% Gold 4,117 -0.29% BTC 63,931 +1.08% ETH 1,772 +1.44%
S&P -0.15% Nasdaq -0.27% EuroStoxx -0.15% FTSE +0.07% Dax +0.03% SMI +0.19%
Macro :
- US Says Iran Technical Talks to Continue Despite Recent Strikes
- SpaceX’s Junk Yield Paradox Exposes Worries Over Cash Burn
- SpaceX’s Junk Yield Paradox Exposes Worries Over Cash Burn
- Japan Urges Its Pensions to Invest More at Home in Boost for Yen
- Oil Steadies at End of Volatile Week as US and Iran Keep Talking
Keep an eye on :
Keep an eye on :
- AI FP : Air Liquide to Invest Over $200M in Production Site in Texas
- AKBM NO : Aker BioMarine 2Q Revenue Under Estimates
- BAYN GY : Bayer Gets €3b From Apollo Stake in Contraceptives Business
- BA US : Boeing 737 MAX 7 on Track to Win FAA Certification in Late July -- WSJ
- BWLPG NO : BW LPG Says Indian Unit to Sell 2007-Built BW Elm
- BMAX SS : Byggmax 2Q Ebit Beats Estimates
- CARM FP : Carmila: Acquisition of Grand Quetigny
- DIS US : Disney is exploring adding a free tier for Disney+ as YouTube draws TV viewers
- ELK NO : Elkem 2Q Ebitda Beats Estimates
- EMSN SW : EMS-Chemie 1H Net Sales Beat Estimates
- ENTRA NO : Entra 2Q Rental Income Meets Estimates
- FRMI US : Fermi Is Said to Offer Up to 5% Coupon on Convertible Bond
- GTT FP : GTT Gets Samsung Heavy Industries FLNG Unit Tank Design Order
- HSBA LN : HSBC Looks for Buyers of HK Unit Hang Seng’s Risky Loans: FT
- KIT NO : Kitron 2Q Revenue Beats Estimates
- META US : Tencent leads deal to unwind Meta’s $2bn Manus acquisition
- GLE LN : MJ Gleeson Sees Earnings in Line With Market Expectations
- NFLX US : Netflix Exploring Live TV, Bundles as Subscriber Engagement Showed Signs of Decline -- WSJ
- NVDA US : Samsung’s Lee Seeks to Meet Nvidia’s Huang in US End-July: DongA
- POS AV : Porr Holder IGO Construction Offers About 1.5m Shares: Terms
- POS AV : Porr Holder IGO Construction Offers About 1.5m Shares: Terms
- 000660 KS : SK Hynix Is Said to Price US Share Offering at $149 Apiece
- 1SMA GY : Smag Said to Allocate IPO Shares to More Than 45 Investors
- SOBI SS : Sobi Says Empaveli Gets Reimbursement Recommendation in Canada
- GLE FP : SocGen to Finance Tycoon’s Cameroon Sugar Mill to Take on Castel
- SPCX US : SpaceX’s Junk Yield Paradox Exposes Worries Over Cash Burn
- STRO NO : StrongPoint Reports 2Q Revenue of NOK 342 Million, Compared With FactSet Estimates of NOK 343 Million (1 Est.)
- TPRO IM : Technoprobe’s 330% Surge Makes It a European AI Stock Standout
- 700 HK : Tencent in Talks to Become Largest Holder of Manus: FT
- TRYG DC : Tryg 2Q Pretax Profit Beats Estimates
- DG FP : Vinci Wins ~€100m Heavy Vehicle Charging Station Deal in Germany
- VOD LN : Emirates Telecom to Sell Vodafone Stake for $5.95B to Vega
- VOW GY : Volkswagen Eyes Halving Model Lineup After Board Impasse