Technology stocks led gains in Asia-Pacific markets, tracking Wall Street's overnight recovery fueled by easing investor anxieties over a Chinese AI model. The dollar strengthened, supported by a rotation from safe-haven currencies and fresh tariff warnings. Trading volumes were muted due to Lunar New Year holidays.
Technology stocks surged in Asia-Pacific markets today, mirroring overnight gains on Wall Street as investor concerns over a low-cost Chinese AI model subsided. The model, developed by Chinese startup DeepSeek, has sparked debate about its potential to challenge US dominance in the AI industry. Wall Street saw a rebound, with the S&P 500 and Nasdaq Composite futures edging down slightly, following impressive rallies in the previous session.
The dollar remained resilient, attracting traders seeking refuge from safe-haven assets like the Japanese yen. This upward trend was further fueled by fresh tariff warnings from the Donald Trump administration. Trading volumes in Asia were notably lower due to Lunar New Year holidays, which impacted exchanges in mainland China, Hong Kong, Taiwan, Singapore, and South Korea. Japan's Nikkei share average saw a 0.5 percent increase, poised to end a three-day streak of declines.Attention now shifts to mega-cap tech earnings scheduled later today on Wall Street from Meta Platforms, Microsoft, and Tesla. Investors are eager to hear if these companies will maintain their heavy investments in computing power. The Federal Reserve also announces a policy decision, though an on-hold outcome is widely anticipated. The dollar index, a gauge of the currency's performance against six major rivals, remained steady at 107.91 after two consecutive days of gains. The Mexican peso and Canadian loonie experienced slight fluctuations, while the euro, yen, and Australian dollar saw modest movements. Oil prices held onto Tuesday's gains, with Brent crude oil futures and U.S. West Texas Intermediate crude futures inching higher
TECHNOLOGY DOLLAR AI TARIFFS MARKETS LUNAR NEW YEAR
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
SIA ranked third most punctual airline in Asia-Pacific, behind Japan’s JAL and ANANEW YORK/WASHINGTON (Reuters) - Last month, in the waning days of the Biden administration, the SEC set a tight deadline of several days for demanding that Elon Musk pay a settlement or face civil charges relating to alleged securities violations during his $44 billion takeover of Twitter in 2022.
Read more »
Singapore Airlines Ranks Third Most Punctual in Asia-PacificSingapore Airlines (SIA) has improved its ranking to become the third most punctual airline in the Asia-Pacific region for 2024.
Read more »
GAOC Group of Companies Wins Three Awards at Asia Pacific Enterprise Awards 2024GAOC Group of Companies (GGC), the largest dental conglomerate in the Philippines, was awarded three accolades at the Asia Pacific Enterprise Awards (APEA) 2024 Philippines Chapter. The group received the Corporate Excellence Award, while its chairman and CEO, Dr. Steve Mark Gan, was honored with the Master Entrepreneur Award. Novodental Philippines, a brand under GGC, was awarded the Fast Enterprise Award for its rapid growth.
Read more »
Gentari Marks Significant Progress in Asia Pacific's Clean Energy TransitionGentari, a clean energy solutions provider, has made substantial strides in 2024, solidifying its position as a leading force in renewable energy, hydrogen, and green mobility across Asia Pacific. Through strategic partnerships and focused efforts, Gentari has achieved key milestones in various markets, supporting the region's transition to a net-zero future.
Read more »
Qlik appoints Maurizio Garavello as senior vice president, Asia Pacific & JapanQlik® has announced the appointment of Maurizio “Maury” Garavello as senior vice president for Asia Pacific and Japan.
Read more »
Aon Forecasts 11.1 Percent Increase in Employee Medical Plan Costs for Businesses in Asia PacificSINGAPORE - Media OutReach Newswire - 22 January 2025 - Aon plc (NYSE: AON), a leading global professional services firm, has released its 2025 Global...
Read more »