Asia open: AI Rally stalls on Broadcom miss, while ‘Sell Indonesia’ sweeps markets
Global markets turned mixed as the AI rally stumbled following Broadcom’s weaker-than-expected outlook, triggering a sharp selloff in technology shares. While the Nasdaq and the semiconductor sector came under pressure, the Dow Jones surged to a record high as falling oil prices eased inflation concerns. Meanwhile, Indonesia’s financial markets extended their sharp decline amid growing investor concerns over policy intervention, highlighting broader risks facing emerging markets across Asia.
Asia open: Middle East tensions drive oil higher as S&P 500 snaps winning streak
Global markets retreated as renewed U.S.-Iran tensions disrupted ceasefire hopes and pushed oil prices higher. The S&P 500 snapped a nine-day winning streak while technology shares came under pressure after Broadcom issued weaker-than-expected AI growth guidance. Meanwhile, rising energy costs, strong labour markets, and persistent inflation reinforced expectations of further monetary tightening from major central banks, weighing on investor sentiment worldwide.
