ASIA MARKETS SNAP BACK: CHIPS LEAD THE RALLY
AI TRADE ROARS BACK
• Asian stocks hit their highest level since mid-July
• MSCI Asia Pacific index jumped 2%
• Japan’s Nikkei and South Korea’s Kospi rallied around 3%
• Samsung Electronics and SK Hynix gained 2%+
AI OPTIMISM RETURNS
• Nvidia rose 2%+ in post-market trading
• Strong tech earnings are bringing investors back to the AI trade
• But questions remain over whether huge AI spending can deliver enough returns
OIL SLIDES AS US-IRAN DEAL HOPES RISE
• Brent fell 1.1% to around $78.50
• Hopes of an interim US-Iran deal pushed oil lower
• A reopening of the Strait of Hormuz could ease global energy pressures
WALL STREET HOLDS STRONG
• S&P 500 futures rose 0.3%
• 10-year US Treasury yield slipped to 4.60%
• Gold climbed 1.3% to around $4,129
CORPORATE NEWS
• SpaceX: Shares fell 7.5% after the company projected higher AI spending
• AMD: Stock dropped 9% after an underwhelming outlook
• Nvidia: Shares gained after Elon Musk backed its new Vera Rubin chips
• Life Insurance Corp.: India expanded its share sale to raise $3.3 billion
• US-China tech: FCC is drafting restrictions on imports of some Chinese data center components
THE BIG QUESTION
The AI rally is back, but investors still need to see whether massive AI spending can translate into sustainable returns.