Asian stocks fell for the second straight day, with selling pressure intensifying on tech stocks, further fueled by investor concerns about overvaluation and massive spending in the artificial intelligence sector. The MSCI Asia Pacific Index fell 0.7%, with stocks such as Samsung Electronics and SoftBank Group leading the decline. The Korea Composite Stock Price Index (KOSPI) – a benchmark for AI investment – led the losses, falling 2%. This followed the Nasdaq 100's worst two-day...
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FXCG – AI Fears Trigger Stock Market Turmoil, Gold Price Breaches $5,000 Mark
Software stocks have been hit by sell-offs, leaving the stock market with an uncertain outlook, while the price of gold has climbed back above the key threshold of $5,000 per ounce. On Wednesday, stocks sensitive to economic conditions led the gains, with the Russell 2000 Small Cap Index futures rising 0.4%. S&P 500 Index futures edged up 0.1% ahead of Alphabet's earnings release, while Nasdaq 100 Index futures dipped 0.3%. Advanced Micro Devices (AMD) shares...
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The New Zealand dollar, previously unpopular, is attracting European funds betting on an economic recovery.
European fund managers have been buying the New Zealand dollar, betting it will benefit from an economic recovery, the prospect of interest rate hikes, and a broad-based weakening of the US dollar. London-based asset managers such as Candriam, Ninety One Plc, and Amova Asset Management have recently added the New Zealand dollar to their portfolios. The New Zealand dollar rose nearly 5% in January, becoming the second-best performing G10 currency so far this year. While...
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