Asian stocks fell alongside US equity-index futures as a selloff in chipmakers deepened with investors questioning whether they had rallied too far and too fast earlier this year. Oil climbed. MSCI’s Asia Pacific equities gauge dropped 2.1%, with Japan’s Nikkei 225 Stock Average losing 4.4%. Taiwan Semiconductor Manufacturing Co. dropped more than 4% as the chip bellwether’s solid earnings outlook was overshadowed by a higher spending forecast. Kioxia Holdings Corp. sank by 15% in Tokyo, halving its market capitalization in just a month. Netflix Inc. also weighed on sentiment, with shares falling 9% in extended trading after the company forecast a second straight quarter of slowing sales growth. Equity-index futures for the Nasdaq 100 Index retreated almost 1%. Elsewhere, Brent rebounded from Thursday’s losses as hostilities across the Middle East continued to escalate and shipping traffic slumped in the Strait of Hormuz. The commodity traded just below $85 a barrel and was up 12% for the week, on track for its biggest weekly gain since April and rekindling inflation concerns. Technology stocks have come under pressure in recent weeks as investors increasingly question whether this year’s blistering AI-driven rally has run too far, too fast. While softer US inflation has eased expectations of an immediate Federal Reserve interest-rate hike and Middle East tensions continue to drive oil prices, the focus remains on AI earnings for evidence that billions of dollars in spending will translate into returns. In other corners of the market, Government bonds edged lower in Australia and Japan. Treasuries were little changed, with the yield on the benchmark 10-year holding at 4.55%. The yen traded around 162.45 per dollar even as Japan’s Finance Minister Satsuki Katayama renewed her warning of possible intervention in the market as the currency continued to hover near its lowest level in four decades. Gold was on track for its biggest weekly loss since early June as renewed hostilities in the Middle East and rising oil prices fueled speculation the Federal Reserve may keep interest rates higher for longer. The dollar was a touch stronger against most of its major peers. That was due to a combination of the selloff in technology stocks, rising energy prices, and higher US real yields, said Chidu Narayanan, chief Asia Pacific strategist at Wells Fargo in Singapore. Attention remained firmly on the semiconductor sector as investors questioned whether tech stocks had become too richly valued. Alphabet Inc. sank 4.4% Thursday after Google was said to be months behind schedule in delivering its flagship AI model. Traders are grappling with whether the more than $725 billion the four biggest US AI operators are expected to spend this year will translate into returns. The Philadelphia Semiconductor Index has dropped about 19% from a June peak. A gauge of Asian semiconductor makers was headed for its biggest weekly decline since early March, with Japanese companies taking a hit on Friday and South Korean markets closed. US After Hours NFLX -8.2% lower on earnings; ISRG -11%, STAA -8.5%, FFIN -3.4%, AA -2.9% also lower on earnings/guidance.
Nikkei -5,38% Hang Seng -2,52% CSI -3,97% Kospi -6.37% Shanghai -3,12% Shenzen -3.15%
Eur$ 1.1438 CNH 6.7767 CNY 6.7751 JPY 162.40 GBP 1.3465 CHF 0.8089 RUB 78.1000 TRY 47.1627 WTI$ 79.84 +1.13% Gold 3,989 -0.07% BTC 63,455 -0.96% ETH 1,849 -1.12%
S&P -0.90% Nasdaq -1.55% EuroStoxx -0.87% FTSE -0,48% Dax -0.66% SMI -0,20%
Macro :
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Keep an eye on :
Keep an eye on :
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- ADP FP : Groupe ADP June Passenger Traffic -1.4%
- AIR FP : Boeing, Airbus Vie for Major Plane Order From Jet Lessor SMBC
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- CS FP : AXA Sells Its Ardian Stake as ACM, Wafra Expand Their Ownership
- BHG SS : BHG Group 2Q Sales Beat Estimates
- CTEK SS : CTEK 2Q Sales Miss Estimates
- COTN SW : Comet Disappointed With US Court Decision of New XP Power Trial
- CVC NA : CVC DIF to Sign Deal to Buy Ecoeridania, Sole Reports
- 699925 CH : CMXT : CXMT’s mega IPO draws frenzy from retail investors to DeepSeek founder’s fund
- DANSKE DC : Danske Bank Boosts FY Net Income Forecast (1)
- DSY FP : Dassault Systèmes in Talks to Buy ArisGlobal for About $2b: FT
- DBV FP : DBV Tech 1H Net Loss $98.0M
- EQT SS : EQT 1H Adjusted Ebitda Beats Estimates
- ESSITYA SS : Activist Investor Cevian Acquires 5.6% Stake in Essity
- EVO SS : Evolution 2Q Ebitda Misses Estimates
- GF SW : Georg Fischer 1H Ebit Loss CHF33M, Est. Profit CHF80.6M
- GOOGL US : Alphabet Sinks on Gemini Delay Report, Struggles At 50-Day
- GOOGL US : Alphabet Sinks on Gemini Delay Report, Struggles At 50-Day
- INSTAL SS : Instalco 2Q Sales Beat Estimates
- KEMIRA FH : Kemira Maintains FY Revenue Forecast
- LAGRB SS : Lagercrantz 1Q Net Revenue Beats Estimates
- LINDEX FH : Lindex 2Q Net Sales EU259.5M
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- ISP IM : Paschi Casts Doubts Over Intesa Bid, Suggests Studying BPM Plan
- BMPS IM : Banco BPM Welcomes Paschi Board Statement on Tie-up Proposal
- MTRS SS : Munters 2Q Net Sales Miss Estimates
- NOVN SW : Novartis Kidney Drug Fabhalta Gets FDA Traditional Approval
- ORIOLA FH : Oriola 2Q Net Sales Miss Estimates
- PSKY US : Paramount Judge Skeptical of Consumer Suit Over Warner Bros Deal
- RATOB SS : Ratos 2Q Oper Profit From Cont Ops SEK1.35B Vs. SEK834M Y/y
- RIEN SW : Rieter 1H Net Loss CHF54.9M Vs. Loss CHF20.0M Y/y
- SAABB SS : Saab 2Q Operating Profit Beats Estimates
- SCST SS : Scandi Standard 2Q Operating Income Beats Estimates
- SKAB SS : Skanska 2Q Operating Profit Beats Estimates
- S92 GY : SMA Solar Sees FY Sales EU1.63B to EU1.73B
- SKFB SS : SKF 2Q Adjusted Operating Profit Beats Estimates
- SPCX US : SpaceX Scrubs Launch of Starship Rocket After Engine Failure
- TELIA SS : Telia 2Q Adjusted Ebitda Meets Estimates
- TOM NO : Tomra 2Q Revenue EU405M
- TTE FP : Slim’s Carso Buys Stake in Mexican Oil Field From TotalEnergies
- TRUEB SS : Truecaller 2Q Revenue Beats Estimates
- VEND NO : Vend Marketplaces 2Q Ebitda Misses Estimates
- VPLAYB SS : Viaplay 2Q Sales SEK5.51B
- VIMIAN SS : Vimian 2Q Revenue Beats Estimates
- VOD LN : Niel’s Vega to Buy Additional 2.74% of Vodafone Shares
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