Stocks rebounded after two days of tech-led losses in the US that were fueled by concerns that the artificial intelligence-driven rally had run ahead of itself. Gold extended gains as traders trimmed bets on Federal Reserve interest rate hikes. The MSCI Asia Pacific Index climbed 1.1%, with more than two shares rising for every one that declined in the gauge. All 11 subgroups of the benchmark advanced. Futures contracts tied to the tech-heavy Nasdaq 100 Index rose 0.6%. Stocks in mainland China, Hong Kong and Japan all gained in a broad rally that helped regional shares turn positive for the week. South Korea’s Kospi index, the world’s best-performing major equity benchmark this year, climbed 3% after a volatile start that saw it drop to near a technical bear market. Shares of Samsung Electronics Co. climbed 6.8% following a report that Anthropic PBC is in talks with the Korean company to manufacture a custom artificial intelligence chip. Treasury futures edged higher in Asia after weaker-than-expected US June employment data and lower oil prices challenged expectations for Fed rate hikes. There’s no cash trading in Treasuries worldwide on Friday due to a US holiday. The dollar weakened against most of its major peers. Friday’s equity gains offered some relief after a selloff in tech stocks, particularly chipmakers, fueled concerns that the AI-driven rally may have gone too far, too fast. Even so, confidence in the technology’s long-term potential remains strong, with investors focused on whether earnings growth can justify lofty valuations and the billions of dollars being invested in AI infrastructure. The rebound in Asia came after semiconductor stocks in the US started the third quarter with their biggest two-day selloff in nearly a month. The Philadelphia Semiconductor Index, which gained a record 88% last quarter, fell 5% on Thursday. That brought its two-session decline to 12%, the most since June 5. Elsewhere, gold rose for a third day as the weak US jobs numbers eased Fed rate-hike bets. The non-yielding metal, which is less attractive when rates are increased, gained as much as 1.8% to $4,195.39 an ounce. Silver climbed 2.2% to $62.25 an ounce. Platinum and palladium also advanced. Brent crude steadied in thin trading as tanker traffic through the Strait of Hormuz increased, adding to a gush of near-term supply while talks between the US and Iran continue. The commodity traded near $72 a barrel. Earlier, data showed the US labor market cooled in June, reinforcing expectations the Fed can afford to be patient on interest rates. Nonfarm payrolls increased 57,000 last month after downward revisions to the prior two months took some of the shine off recent blockbuster reports, Bureau of Labor Statistics data Thursday showed. The unemployment rate fell to 4.2% as labor force participation plunged. Traders pared back expectations for additional Fed rate hikes, though they continued to price in at least one increase this year.
Nikkei +1.12% Hang Seng +1.14% CSI +1.09% Kospi +5.66% Shanghai +0.69% Shenzen +1.40%
Eur$ 1.1440 CNH 6.7849 CNY 6.7819 JPY 161.20 GBP 1.3359 CHF 0.8029 RUB 77.5723 TRY 47.7984 WTI$ 69.02 Gold 4,177 +1.44% BTC 61,299 -0.33% ETH 1,703 -0.07%
S&P +0.34% Nasdaq +0.87% EuroStoxx +0.39% FTSE +0.10% Dax +0.53% SMI -0.05%
Macro :
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- German Reform Plan Could Lift 2027 GDP Above 1%, Merz Says
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- ‘Dark’ Trading Is Doing a Lot of Damage in Europe: Chris Hughes
Keep an eye on :
- AIR FP : Airbus Delivered 350 Planes in First Half Amid Supply Chain Woes
Keep an eye on :
- AIR FP : Airbus Delivered 350 Planes in First Half Amid Supply Chain Woes
- AKRBP NO : Aker BP 2Q Avg Production Meets Estimates
- Anthropic IPO : Anthropic Moves to Close Loopholes on China Claude Access: FT
- ATRLJB SS : Atrium Ljungberg 2Q Rental Income Beats Estimates
- BATS LN : Reynolds Defends Its FDA-Reviewed E-Cigarettes
- BG US : Bunge Confirms Defunct Ukraine Grain Silo Damaged by Strike
- CRW LN : Craneware Sees Earnings Below Market Expectations
- Crusoe : Crusoe in Talks for $3 Billion Round That May Triple Valuation
- ENGI FP : Engie to Build Over 400km of Power Transmission Lines in Peru
- ENGI FP : Engie to Build Over 400km of Power Transmission Lines in Peru
- RF FP : Eurazeo Sells Stake in FST Hotels to Extendam
- GTT FP : GTT Gets Order for Tank Design of One New LNG Carrier
- HBR LN : Harbour Energy Holder Offers About 54.8m Shares, Terms Show
- LMT US : Lockheed Martin in lead to buy naval tech group Ultra Maritime
- Londia n IPO : Chinese EV Battery Parts Maker Londian Files for US IPO
- META US : Zuckerberg Says AI Agent Work Hasn’t Advanced as Expected: Rtrs
- MIPS SS : Mips to Pay $3.25m as Part of Settlement With BrainGuard
- OCDO LN : Ocado shareholders call for removal of chair Adam Warby
- PIRC IM : Strnad, Tykac Mull Buying Pirelli Shares From Sinochem: Corriere
- PLX FP : Pluxee 3Q Organic Revenue Beats Estimates
- R3NK GY : Renk Group Is Said to Near Deal to Buy UK’s David Brown Defence
- RHM GY : Rheinmetall to Assess F126 Cancellation Impact on 2026 Guidance
- RHM GY : Rheinmetall Is Evaluating Loss of Warship Contract: Street Wrap
- SPCX US : Trump: Think Musk Will Donate SpaceX Stock to Trump Accounts
- SPOT US : Spotify Challenges Prediction Markets After Song Chart Rigging
- SUMMA SS : Summa Defence Says Finnish Defence Revokes Procurement Decision