South Korean stocks sank on Wednesday as a renewed surge in oil prices and global bond yields hit the KOSPI’s heavyweight technology and industrial names, turning Seoul into one of Asia’s weakest major markets. The KOSPI was down 2.86% at 6,640.26 by late morning after opening more than 3% lower. Samsung Electronics fell 2.97% and
Gold slipped below $4,300 an ounce on Wednesday, extending its decline to a fourth session as rising oil prices, higher Treasury yields and a firmer dollar outweighed the metal’s usual safe-haven appeal. Spot gold traded around $4,300 in Asian hours after touching its lowest level since early August, while December US futures fell towards $4,350.
The Nikkei 225 Index continued its strong downward spiral, reaching its lowest level since August 5 this year, and 11.80% from its highest point this year. This retreat happened as the US-Iran tensions and Japan’s bond yields continued the bull run. It slipped to 64,253 points, with most Japanese companies being in the red. Nikkei
Ethereum has fallen 2.3% over the past 24 hours to roughly $2,414, putting the $2,400 level under pressure as geopolitical tensions, higher Treasury yields and large whale transfers weigh on ETH. CoinGecko puts ETH at $2,414 at the time of writing, after the token fell from the $2,480 area and briefly traded below $2,400 during
Oil prices extended their rally on Wednesday as another exchange of strikes between the US and Iran revived fears that energy flows through the Strait of Hormuz could deteriorate further. Brent crude traded around $95.50-$96 a barrel in Asian hours, while West Texas Intermediate held near $91 after both benchmarks surged more than 4% on
The NZD/USD exchange rate continued its strong downward trend, reaching its lowest level since August 13 this year after the Reserve Bank of New Zealand (RBNZ) delivered its interest rate decision. It slumped to 0.5835, down by over 2.6% from its highest point in August. RBNZ interest rate hike New Zealand’s RBNZ decided to hike
Micron Technology (NASDAQ: MU) has been one of the biggest winners from the AI memory boom, with its shares up more than 200% this year as shortages push DRAM and HBM prices higher. Nvidia’s latest filing helps explain why. The chipmaker disclosed $279 billion of supply and capacity commitments as of July 26, up from
Microsoft’s relationship with OpenAI has been central to its artificial intelligence strategy, but a forthcoming model highlights a growing risk as more powerful AI may also become harder to deploy quickly. OpenAI said on September 1 that Astra has reached the “Critical” cybersecurity capability threshold under its Preparedness Framework, the first OpenAI model to receive
Robinhood Markets HOOD shares rose in premarket trading on Tuesday after Morgan Stanley upgraded the online trading platform to Overweight from Equal-weight and raised its price target to $150 from $124. The upgrade came even as broader cryptocurrency-related stocks declined, with Coinbase and Strategy trading lower in premarket activity. Morgan Stanley said Robinhood’s expanding product
KuCoin, a global cryptocurrency platform, has upgraded its Institutional Interest-Free Lending Program by adding support for its Unified Trading Account (UTA). The update lowers the external 30-day trading volume requirement for newly registered API clients from 30 million USDT to 10 million USDT. Eligible clients can also access 0% interest for the first two months