21 hours ago
By Tom Westbrook and Ankur Banerjee
SINGAPORE, July 28 (Reuters) - Chip stocks tanked across Asia on Tuesday, rattled by the threat of Chinese competition and worries about who's paying for the AI boom, while sliding oil prices did little to allay nerves about U.S. rate hikes potentially starting as soon as this week.
South Korea's KOSPI dived almost 10% to a three-month low, triggering a circuit breaker on the way down as it heads for its largest monthly fall since the Asian financial crisis in 1997. The index had more than tripled over 12 months to June, but it has shed more than a third of its value since that peak.
Shares in SK Hynix and Samsung Electronics, which are under extra pressure in a market transformed by leverage, made losses of more than 12% as their stratospheric rally unwinds in a hurry.
Japan's Nikkei slid about 4%, touching a two-year low, with the selloff following a 2.2% drop for the Philadelphia Semiconductor index on Monday.
#ankur #reuters
SINGAPORE, July 28 (Reuters) - Chip stocks tanked across Asia on Tuesday, rattled by the threat of Chinese competition and worries about who's paying for the AI boom, while sliding oil prices did little to allay nerves about U.S. rate hikes potentially starting as soon as this week.
South Korea's KOSPI dived almost 10% to a three-month low, triggering a circuit breaker on the way down as it heads for its largest monthly fall since the Asian financial crisis in 1997. The index had more than tripled over 12 months to June, but it has shed more than a third of its value since that peak.
Shares in SK Hynix and Samsung Electronics, which are under extra pressure in a market transformed by leverage, made losses of more than 12% as their stratospheric rally unwinds in a hurry.
Japan's Nikkei slid about 4%, touching a two-year low, with the selloff following a 2.2% drop for the Philadelphia Semiconductor index on Monday.
#ankur #reuters
6 days ago
By Caroline Valetkevitch and Ankur Banerjee
NEW YORK/SINGAPORE, July 21 (Reuters) - Major stock indexes rose on Tuesday with the Nasdaq and chipmaker shares surging, while oil prices climbed to a five-week high amid rising tensions in the Iran conflict.
The **** anese yen weakened 0.41% against the greenback to 163.14 per dollar, breaching the 163 mark for the first time since December 1986 as traders braced for possible intervention in the currency by the **** anese government.
Two oil tankers carrying Saudi crude to Asia reversed course in the Red Sea after threats from Yemen's Iran-aligned Houthis.
Brent futures rose $1.79, or 2.0%, to settle at $91.01 a barrel, while U.S. West Texas Intermediate crude gained $1.68, or 2.0%, to settle at $84.91. It was the highest close for Brent since June 10 and for WTI since June 11.
#caroline
NEW YORK/SINGAPORE, July 21 (Reuters) - Major stock indexes rose on Tuesday with the Nasdaq and chipmaker shares surging, while oil prices climbed to a five-week high amid rising tensions in the Iran conflict.
The **** anese yen weakened 0.41% against the greenback to 163.14 per dollar, breaching the 163 mark for the first time since December 1986 as traders braced for possible intervention in the currency by the **** anese government.
Two oil tankers carrying Saudi crude to Asia reversed course in the Red Sea after threats from Yemen's Iran-aligned Houthis.
Brent futures rose $1.79, or 2.0%, to settle at $91.01 a barrel, while U.S. West Texas Intermediate crude gained $1.68, or 2.0%, to settle at $84.91. It was the highest close for Brent since June 10 and for WTI since June 11.
#caroline
22 days ago
Another Team USA match in the World Cup means another party in downtown Detroit.
Hundreds of fans filled out Campus Martius Park ahead of Team USA's Round of 16 match against Belgium. If USA wins, it'll be its first time the Americans made the World Cup quarterfinals in more than 20 years.
This is the fifth Team USA watch party held by Detroit City Football Club for the World Cup.
Live match updates: USA-Belgium score, highlights with Balogun returning from red
One US soccer fan, Ankur Gupta, came with a red, white, and blue Einstein wig. Gupta said he hopes the fanfare at Campus Martius matches the in-person experience for Team USA matches.
Hundreds of fans filled out Campus Martius Park ahead of Team USA's Round of 16 match against Belgium. If USA wins, it'll be its first time the Americans made the World Cup quarterfinals in more than 20 years.
This is the fifth Team USA watch party held by Detroit City Football Club for the World Cup.
Live match updates: USA-Belgium score, highlights with Balogun returning from red
One US soccer fan, Ankur Gupta, came with a red, white, and blue Einstein wig. Gupta said he hopes the fanfare at Campus Martius matches the in-person experience for Team USA matches.
22 days ago
Another Team USA match in the World Cup means another party in downtown Detroit.
Hundreds of fans filled out Campus Martius Park ahead of Team USA's Round of 16 match against Belgium. If USA wins, it'll be its first time the Americans made the World Cup quarterfinals in more than 20 years.
This is the fifth Team USA watch party held by Detroit City Football Club for the World Cup.
Live match updates: USA-Belgium score, highlights with Balogun returning from red
One US soccer fan, Ankur Gupta, came with a red, white, and blue Einstein wig. Gupta said he hopes the fanfare at Campus Martius matches the in-person experience for Team USA matches.
Hundreds of fans filled out Campus Martius Park ahead of Team USA's Round of 16 match against Belgium. If USA wins, it'll be its first time the Americans made the World Cup quarterfinals in more than 20 years.
This is the fifth Team USA watch party held by Detroit City Football Club for the World Cup.
Live match updates: USA-Belgium score, highlights with Balogun returning from red
One US soccer fan, Ankur Gupta, came with a red, white, and blue Einstein wig. Gupta said he hopes the fanfare at Campus Martius matches the in-person experience for Team USA matches.
22 days ago
Thanks to Taylor Swift and Travis Kelce's wedding, love and equanimity are in the air. Right?
Well, not for everyone. Though many are gushing online over the couple's celebrity-filled wedding extravaganza at New York City's Madison Square Garden July 3, the event has also drawn plenty of backlash from people saying they're over lavish weddings.
"'Let them eat cake' hits a little differently when the cake is served at a billionaire's wedding in Madison Square Garden," wrote one X user. "ur telling me that a billionaire had a wedding raffle of luxury items that she gave away to other members of the elite class of other billionaires and millionaires," wrote another. Swift and Kelce donated $26 million to charities across the country ahead of their wedding, but that seems to have done little to stunt the backlash. As another put it: "I truly think this was the most gauche, gaudy new-money (wedding) I have ever witnessed & I love Taylor Swift."
Swift and Kelce are far from the only famous couple to have their luxury wedding come under the harsh judgment of the internet. Remember Jeff Bezos and Lauren Sanchez's wedding in Venice, Italy, which drew protests? Or when Bilt Rewards CEO Ankur Jain and former WWE wrestler Erika Hammond got married in a four-day spectacle in Egypt?
Mental health experts previously told USA TODAY that resentment toward displays of wealth often have little to do with the actual individuals involved. Usually, these harsh reactions stem from deeper frustrations people have with their own economic situations.
Well, not for everyone. Though many are gushing online over the couple's celebrity-filled wedding extravaganza at New York City's Madison Square Garden July 3, the event has also drawn plenty of backlash from people saying they're over lavish weddings.
"'Let them eat cake' hits a little differently when the cake is served at a billionaire's wedding in Madison Square Garden," wrote one X user. "ur telling me that a billionaire had a wedding raffle of luxury items that she gave away to other members of the elite class of other billionaires and millionaires," wrote another. Swift and Kelce donated $26 million to charities across the country ahead of their wedding, but that seems to have done little to stunt the backlash. As another put it: "I truly think this was the most gauche, gaudy new-money (wedding) I have ever witnessed & I love Taylor Swift."
Swift and Kelce are far from the only famous couple to have their luxury wedding come under the harsh judgment of the internet. Remember Jeff Bezos and Lauren Sanchez's wedding in Venice, Italy, which drew protests? Or when Bilt Rewards CEO Ankur Jain and former WWE wrestler Erika Hammond got married in a four-day spectacle in Egypt?
Mental health experts previously told USA TODAY that resentment toward displays of wealth often have little to do with the actual individuals involved. Usually, these harsh reactions stem from deeper frustrations people have with their own economic situations.
29 days ago
By Alun John and Ankur Banerjee
LONDON/SINGAPORE, June 30 (Reuters) - The steadily climbing dollar pushed the yen down to levels not seen since 1986 on Tuesday, stoking worries that direct intervention from Tokyo was near, if perhaps not immediate, and also putting the euro under pressure.
The greenback climbed to as high as 162.41 yen for the first time in 40 years on Tuesday and was last at 162.15, up slightly on the day. ******* anese Finance Minister Satsuki Katayama reiterated that authorities stood ready to respond appropriately at any time, but refrained from stronger rhetoric.
"The dollar is the main story at the moment and dollar/yen the key focus within that," said Lee Hardman, senior currency ******* yst at MUFG.
"The market has moved to price in a higher chance of the Federal Reserve hiking rates, and while our view is ultimately the Fed can look through this inflation pick up there isn't an immediate trigger for that unless we get softer data or Fed officials dial back the rhetoric."
LONDON/SINGAPORE, June 30 (Reuters) - The steadily climbing dollar pushed the yen down to levels not seen since 1986 on Tuesday, stoking worries that direct intervention from Tokyo was near, if perhaps not immediate, and also putting the euro under pressure.
The greenback climbed to as high as 162.41 yen for the first time in 40 years on Tuesday and was last at 162.15, up slightly on the day. ******* anese Finance Minister Satsuki Katayama reiterated that authorities stood ready to respond appropriately at any time, but refrained from stronger rhetoric.
"The dollar is the main story at the moment and dollar/yen the key focus within that," said Lee Hardman, senior currency ******* yst at MUFG.
"The market has moved to price in a higher chance of the Federal Reserve hiking rates, and while our view is ultimately the Fed can look through this inflation pick up there isn't an immediate trigger for that unless we get softer data or Fed officials dial back the rhetoric."
1 month ago
By Alun John and Ankur Banerjee
LONDON/SINGAPORE, June 25 (Reuters) - Stocks surged on Thursday after strong earnings and forecasts from chipmakers Micron and Qualcomm helped reignite the AI rally, while the dollar sat around a one-year high against peers despite a fall in oil and Treasury yields.
Tech-heavy Asian markets rose sharply after Micron said its customers had committed $22 billion for its memory chips, while Qualcomm anticipates $15 billion in sales from its data centre business by 2029,
Micron shares rose 17% in premarket trading and Qualcomm 12%.
Japan's Nikkei jumped 4.6%, South Korea's KOSPI gained 5.4%, while futures on the U.S. tech-heavy Nasdaq 100, which includes both Micron and Qualcomm, gained 2.1%.
LONDON/SINGAPORE, June 25 (Reuters) - Stocks surged on Thursday after strong earnings and forecasts from chipmakers Micron and Qualcomm helped reignite the AI rally, while the dollar sat around a one-year high against peers despite a fall in oil and Treasury yields.
Tech-heavy Asian markets rose sharply after Micron said its customers had committed $22 billion for its memory chips, while Qualcomm anticipates $15 billion in sales from its data centre business by 2029,
Micron shares rose 17% in premarket trading and Qualcomm 12%.
Japan's Nikkei jumped 4.6%, South Korea's KOSPI gained 5.4%, while futures on the U.S. tech-heavy Nasdaq 100, which includes both Micron and Qualcomm, gained 2.1%.
