Asian stocks trimmed earlier declines, following a slide in US tech shares, on speculation regional companies have a broader mix of operations that makes them more resilient to the software-driven selloff. MSCI’s Asian gauge of equities pared an earlier drop of as much as 0.6%, boosted by a rotation into more economically sensitive industries such as financials and industrials. The US losses were driven by increasing concern that the rollout of artificial intelligence will undermine traditional software-service business models. Elsewhere, oil rose after the US Navy shot down an Iranian drone headed toward an aircraft carrier in the Arabian Sea. The yen weakened as traders adjusted their positions before a Japanese election this weekend. Software stocks dropped from the open in Asia, tracking losses in their US peers, after AI startup Anthropic released a productivity tool for in-house lawyers, indicating it is directly competing against software-as-a-service businesses. That led to a slide in shares associated with legal software and data services, and snowballed to include a broader range of software firms. The US selloff also spread to alternative investment firms such as Blue Owl Capital Inc. due to speculation AI-driven disruptions would cause steep losses on their books. Wall Street has been skeptical about software companies for a while, but sentiment has worsened as traders sell shares of firms across the industry as fears about the destruction to be wrought by AI pile up. A growing number of investors are also starting to wager that the surge in AI companies, led by the “Magnificent Seven” megacaps, is giving way to broader market participation. A marked rotation has taken place in 2026, with value shares far outpacing growth. Oil advanced for a second day as geopolitical tensions resurfaced following the US downing of an Iranian drone near an American aircraft carrier in the Arabian Sea. Brent advanced to around $68 a barrel, after adding 1.6% on Tuesday, while West Texas Intermediate was near $64. The yen fell as traders positioned ahead of an expected victory by Prime Minister Sanae Takaichi’s Liberal Democratic Party in this weekend’s election. Bitcoin rose in Asian trade after dropping to a more-than one-year low on Tuesday. The token’s recent plunge may deepen into a self-reinforcing “death spiral,” inflicting lasting damage on companies that have spent the past year stockpiling the token, investor Michael Burry said. US After Hours ENPH +20.6%, SIMO +16.3%, SONO +10.4%, MTCH +7.4% higher on earnings; INTA -20.1%, VRNS -17.8%, AMD -8.4%, CMG -5.9%, MDLZ -4.3% lower on earnings; SLAB +32.7% on FT report that TXN in discussions to acquire.
Nikkei -0.73% Hang Seng -0.41% CSI -0.15% Shanghai +0.00% Shenzen -0.67%
Eur$ 1.1831 CNH 6.9344 CNY 6.9376 JPY 156.29 GBP 1.3711 CHF 0.7752 RUB 77.0529 TRY 43.5069 WTI$ 63.81 +0.96% Gold 5,071 +2.54% BTC 76,530 +0.52% ETH 2,274 -0.35%
S&P +0.05% Nasdaq -0.12% EuroStoxx -0.07% FTSE +0.11% Dax +0.04% SMI
Macro :
- Bitcoin Battle Looms Thursday as Saylor in the Crosshairs
- Gold Caught in a Regime Shift Aided by Speculation
- Shipping Firms Face Tough 2026 as Reopening of Red Sea Looms
- General Matter Site in California Leased For US Nuclear Project
Keep an eye on :
Keep an eye on :
-AMZN US : Amazon, Prosus Reach AI, Cloud Deal for Double-Digit Cost Saving
- AMD US : *AMD CEO SEES REVENUE GROWING AT MORE THAN 35% FOR 3-5 YEARS
- AMGN US : Amgen Beats Expectations as Top Drugs Boost Sales and Profit
- AMS SW : AMS Osram Sells Sensor Unit To Infineon For €570m
- AMUN FP : Amundi says it will cut exposure to US over coming year
- ATYM LN : Atalaya Mining Copper Holder Offers About 13m Shares, Terms Show
- CLNX SM : Cellnex Announces New Senior Management Organizational Structure
- LLY US : Lilly to Report With Wider Obesity Access in Sight: Preview
- LLY US : Lilly to Report With Wider Obesity Access in Sight: Preview
- EMR US : Emerson Electric 1Q Adjusted EPS Beats Estimates
- EQT SS : EQT Leads Cybersecurity Firm Kasada’s Private Fundraising Round
- IFX GY : AMS Osram Sells Sensor Unit To Infineon For €570m
- MB IM : Mediobanca’s top private bankers decamp to Deutsche Bank
- ML FP : Michelin to Buy Flexitallic; No Terms
- MONC IM : Moncler Shares Fall to September Low; Traders Cite Analyst Note
- NESN SW : Nestlé CEO Plans Overhaul Around New Product Groupings: FT
- NOVOB DC : Novo Nordisk Falls After Sales Forecast Misses Expectations
- NVDA US : Nvidia Nears Deal to Invest $20 Billion in OpenAI Round
- ORCL US : Banks seek out new buyers for Oracle data centre loans
- PRX NA : Amazon, Prosus Reach AI, Cloud Deal for Double-Digit Cost Saving
- SAB SM : Sabadell to Redeem Tier 1 Preferred Securities Early
- SAN SM : Santander’s Botin: No Bolt-On Deals for at Least Next 3 Years
- SECUB SS : Securitas Buys SaaS Platform Liferaft; No Terms
- SMCI US : SMCI Sees 3Q Net Sales at Least $12.3B, Est. $10.25B
- SOI FP : Soitec 3Q Revenue Beats Estimates
- SONO US : Sonos 1Q Revenue Beats Estimates
- TOBII SS : Tobii 4Q Sales Miss Estimates
- NANE US : Hair Loss Biopharma Firm Veradermics Raises $256 Million in IPO, Veradermics Prices Upsized IPO at $17 Per Share