Overseas investors aggressively withdrew from Asian tech stocks in August, as they turned pricey after their recent rally and doubts emerged about the profitability of AI investments. According to LSEG data, foreigners sold a net $3.8 billion worth of regional shares in South Korea, India, Taiwan,
Shares of AI heavyweight Nvidia tumbled 9.5 per cent on Tuesday in the deepest ever single-day decline in market value for a US company, as investors softened their optimism about artificial intelligence in a broad market selloff following tepid economic data. Nvidia lost $279 billion in market ca
Share markets fell slightly on Monday as investors braced for a data-packed week culminating in a US jobs report that could decide whether a rate cut expected this month will be regular or super-sized. Survey data released on Saturday showed Chinese manufacturing activity sank to a six-month low i
Shares in Nvidia fell on Wall Street despite the artificial intelligence (AI) chip giant comfortably beating expectations after more than doubling its sales. Nvidia announced record revenues of $30 billion (£24.7b) over a three-month period. The company has been one of the biggest beneficia
Asian shares crept cautiously higher on Monday, while the dollar and bond yields were on the wane ahead of inflation data that investors hope will pave the way for rate cuts in the United States and Europe. Oil prices climbed 0.7 per cent after Israel and Hezabollah traded rocket salvos and air st
Shares of Trump Media & Technology Group, which is majority-owned by former US President Donald Trump, sank to record lows on Tuesday, following the Republican presidential candidate's recent return to rival social media platform X. Trump Media shares dropped to as low as $21.33, down more than 4
Adani Group companies lost as much as $19 billion in market value on Monday but recovered much of the losses after Hindenburg Research accused the head of India's market regulator of having links to offshore funds also used by Adani. The battle between Hindenburg Research and the Adani Group began
India's Adani Energy Solutions raised $1 billion through a share sale, which got bids from US investors and sovereign wealth funds, the power distribution company said on Monday. The qualified institutional placement (QIP) was the Adani Group's first fundraising from equity markets after a $2.5 bi
Stock markets in Asia slumped on Monday morning, following big falls by major indexes around the world last week. In Japan, the Nikkei 225 was trading 7.3 per cent lower, while the Topix was down by almost 8.0 per cent. It comes after weak jobs data in the US on Friday sparked fears of a recessio
Worries over tech earnings and a slowing US economy slammed the Nasdaq Composite index on Friday as it extended recent declines to fall 10 per cent below its record high, confirming it was in correction territory. The tech-heavy index fell 2.4 per cent on Friday after a softer-than-expected jobs r
Asian shares rallied on Thursday, tracking a huge revival in tech stocks helped by Meta and Nvidia, while prospects of imminent policy easing in the United States boosted global bonds and commodities. The Federal Reserve held interest rates steady overnight but opened the door to a cut in Septembe
USdrugmaker Pfizer (PFE.N) raised its annual profit forecast on Tuesday after posting better-than-expected sales for its COVID vaccine and antiviral treatment. New Jersey-based Pfizer now expects annual profit to be in the range of $2.45 to $2.65 per share, compared with its prior profit forecast
Standard Chartered (StanChart) on Tuesday announced its largest-ever share buyback worth $1.5 billion and lifted its earnings outlook for this year, betting on strong economic growth in its core Asian markets and plans to rein in costs. The bank's Hong Kong-listed shares were up 4 per cent after t
