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Leader of Revolution: Yemen's supportive stance for Gaza has never diminished or wavered, it has always been steadfast.
[15 May 2025]
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  International
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[15 May 2025]
 
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[15 May 2025]
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[13 May 2025]
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[13 May 2025]
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[13 May 2025]
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[11 May 2025]
 
  US-Saudi Aggression
US-Saudi-Emirati crimes on this day in history
[15 May 2025]
US-Saudi-Emirati crimes on this day in history
[14 May 2025]
US-Saudi-Emirati crimes on this day in history
[13 May 2025]
US-Saudi-Emirati crimes on this day in history
[12 May 2025]
US-Saudi-Emirati crimes on this day in history
[11 May 2025]
  International
Asian Stocks Slow as Technology Weakens
Asian Stocks Slow as Technology Weakens
Asian Stocks Slow as Technology Weakens
[Thu, 15 May 2025 15:32:59 +0300]


Singapore - (Saba):

Asian stock markets retreated in Thursday’s trading as the recent tech-driven rally lost steam, with fading enthusiasm over the U.S.-China trade agreement weighing on investor sentiment.

Technology-led Asian exchanges pulled back following a strong rally earlier in the week, which had been fueled by hopes of improving trade ties and sustained demand for artificial intelligence (AI), according to Investing.com.

In South Korea, the KOSPI index dipped by 0.1%, while Hong Kong’s Hang Seng Index showed no clear direction. Alibaba shares rose slightly by 0.5% ahead of its Q1 earnings report, supported by expectations of a rebound in Chinese consumer spending and higher demand for cloud services.

Tencent shares also climbed 0.5% after reporting a 13% revenue increase, boosted by strong performance in gaming and advertising, both of which benefited from AI-driven applications.

However, AI stocks came under pressure after U.S.-listed CoreWeave, backed by Nvidia, plunged 15% in after-hours trading following warnings that rising costs could impact profit margins in the future.

Despite Thursday’s pullback, tech stocks remained on track for strong weekly gains amid optimism that tensions from the U.S.-China trade dispute may ease.

In mainland China, the Shanghai Composite and the CSI 300 indices fell between 0.2% and 0.5%, although both remained up about 2% for the week.

Japanese equities posted the region’s worst performance, with the Nikkei falling 1.1% and the Topix down 1.0%, as investors turned cautious ahead of Q1 GDP data due Friday.

The upcoming data is expected to show a contraction in the Japanese economy due to weak consumer spending and global trade tensions, although strong capital investment might partially offset the slowdown.

Economists anticipate a rebound in Japan’s economy later this year, supported by significant wage increases agreed upon during spring labor negotiations.

Elsewhere in Asia, markets were mixed. Australia’s ASX 200 rose 0.1% following strong April labor market data, reducing the likelihood of an interest rate cut in the central bank’s next meeting.

Singapore’s Straits Times Index gained 0.4%, while Indian Nifty 50 futures fell 0.2%, pointing to a weak market open, despite recent gains driven by the continued ceasefire with Pakistan.



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UPDATED ON :Thu, 15 May 2025 20:28:32 +0300