Global equity markets displayed mixed performance as investors reassessed positions in technology stocks, particularly chipmakers. South Korea’s Kospi index declined 6% to close at 5,663.24, having fallen more than 8% during intraday trading. The decline was driven primarily by disappointment in SK Hynix’s quarterly results, with the chipmaker’s shares dropping 9.4% despite operating profit increasing nearly sixfold from the previous year. Samsung Electronics also retreated 4.8%.
Broad concerns about artificial intelligence investments continued to weigh on semiconductor stocks across the region. Markets have experienced repeated selloffs in AI-related equities as investors react to developments including progress in China toward more affordable advanced AI models. Japanese indices reflected similar pressures, with Tokyo’s Nikkei 225 losing 1.5% to 61,434.19. Chipmaking equipment maker Tokyo Electron sank 10.6%, while measuring and inspection systems company Lasertec Corp. fell 8.3%. Taiwan’s Taiex declined 3.8%.
European markets opened modestly lower, with Germany’s DAX dropping 0.4% and France’s CAC 40 declining 0.8%, though Britain’s FTSE 100 edged down just 0.1%. In the United States, futures contracts pointed to a slightly higher open for the S&P 500. Australian equities gained 1% following moderate inflation data that eased concerns about interest rate increases, while Hong Kong’s Hang Seng advanced 2% and India’s Sensex rose 1.1%.
Oil markets experienced significant gains as geopolitical tensions escalated in the Middle East. Prices rebounded after a brief three-day pause in hostilities ended with missile exchanges between Iran and neighboring countries. Brent crude jumped 3.3% to $84.77 per barrel, while U.S. benchmark crude gained 3.4% to $81.93 per barrel. The Strait of Hormuz, through which approximately 20% of globally traded oil typically flows, remained a focal point of market attention amid the escalating situation.
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