Topic
sell-off
Finance Asian Markets Tumble as AI Stock Sell-Off Deepens; Nikkei Sinks Nearly 6%, HSI Plunges 2%
Asian stock markets fell sharply on Friday as the sell-off in artificial intelligence-related shares deepened, with Japan's Nikkei 225 leading losses, dropping 5.8% to 62,945.97. Taiwan's benchmark fell over 5%, Hong Kong's Hang Seng index slipped 2%, and China's Shanghai Composite lost 1.6%. Oil prices extended gains on Middle East tensions. Indian equities bucked the trend, rising nearly 1%.
Business Kospi's AI Rally Collapses: South Korean Benchmark Tumbles 7%, Sidecar Triggered
South Korea's benchmark KOSPI tumbled over 7% on Tuesday, reversing from record highs, as investors sold AI-heavy technology stocks despite strong Samsung earnings. The Korea Exchange activated a sell-side sidecar, and the rout hit major names like Samsung, SK Hynix, and Hanwha Ocean.
Logistics Nissen Kaiun closes in on double-digit bulker sell-off, sells Lady Deena for $70m
Japanese shipowner Nissen Kaiun has sold the 183,000 dwt capesize Lady Deena for around $70m, just two ships short of double-digit vessel sales in six months. The sale to Chinese buyers sets a new price benchmark, rising nearly 7% from a comparable sale 10 weeks earlier. The company still operates one of the youngest capesize fleets, with 23 vessels averaging four years old.
Finance US Stocks Slide as IT Sell-Off Deepens; Nasdaq Falls Over 1.4%, Dow Jones Loses 197 Points
US stocks fell sharply on Tuesday, with the Nasdaq Composite dropping over 1.4% and the Dow Jones Industrial Average losing 197 points, as a broad sell-off in technology shares deepened. Concerns over heavy AI spending and rising interest rate expectations weighed on equities, with traders pricing in nearly a 90% chance of a rate hike by year-end. Global markets also declined, led by a 10% plunge in South Korea's Kospi.
Business Indian IT Stocks Crash Rs 1.35 Lakh Cr on Accenture Warning; Analyst Sees Further Downside
Indian IT stocks suffered a massive sell-off on Friday, erasing nearly Rs 1.35 lakh crore in market value, after Accenture's weaker-than-expected outlook reignited fears of AI-driven disruption. The Nifty IT index fell 6%, taking its calendar-year decline to 29%. Brokerages warned of further earnings downgrades and valuation compression for Indian IT firms.