Bangkok — Global stocks were mixed on Thursday after a decline in AI stocks pushed the US market to its worst day in nearly a month.
Traders await an update later today on US inflation, and the Bank of Japan’s decision on interest rates on Friday. The Bank of Japan is expected to raise its key interest rate by 0.25 percentage points to ease price pressures, despite the contraction in the July-September quarter.
Germany’s DAX rose 0.2% to 24,007.33, while the CAC 40 in Paris rose 0.4% to 8,114.30. The British FTSE 100 index rose 0.3% to 9,800.00 points.
The future for S&The P 500 rose 0.3%, while the Dow Jones Industrial Average rose 0.1%.
In Asian trading, the Nikkei 225 index in Tokyo lost 1% to 49,001.50, with technology stocks leading the decline.
Shares of technology and communications giant SoftBank fell 4%. Tokyo Electron, a computer chip maker, lost 3.2%, while Advantest, a maker of chip testing equipment, fell 3.3%.
Honda Motor Company shares fell by 2.2% after reports stated that it would suspend production at some factories in Japan and China due to a shortage of computer chips.
South Korea’s KOSPI fell 1.5% to 3,994.51, also dragged down by selling in shares of electronics companies and automakers. LG Electronics shares fell 3.1%, while Samsung Electronics shares lost 0.3%.
Chinese markets were mixed. Hong Kong’s Hang Seng rebounded from early losses to rise 0.1%, closing at 25,498.13. The Shanghai Composite Index rose 0.2% to 3,876.37 points.
In Australia, S&The P/ASX 200 was almost unchanged at 8,588.20.
Later on Thursday, the US government will release a report on last month’s inflation. Economists expect this report to show that prices for American consumers continue to rise faster than anyone would like.
On Wednesday, S&The P 500 fell 1.2% and the Dow Jones fell 0.5%. The Nasdaq Composite Index fell 1.8%.
Shares rose slightly within S&P 500 which fell, but they sank due to corporate drops in artificial intelligence industry.
The sector is under pressure because of questions about whether the share prices of big technology companies have risen too high, whether all investments in artificial intelligence will be profitable and productive enough to justify the costs, and because of concerns about the massive levels of debt that some companies take on to pay for it in full.
Broadcom fell 4.5%, Oracle fell 5.4%, and CoreWeave fell 7.1%. Nvidia, the chip company that has become the most influential stock on Wall Street because of its sheer size, fell 3.8% and was the day’s heaviest weight in the S Index.&p. 500.
Energy companies that jumped earlier in the year on expectations Stronger demand from data centers that consume electricity It also lost some of its luster. Constellation Energy shares fell 6.7%.
On the winning side of Wall Street were the oil companies, after President Donald Trump ordered the blockade All “sanctioned oil tankers” to Venezuela.
This led to the price of a barrel of standard US crude rising by 1.2% to reach $55.94. Just one day after it fell to its lowest level since 2021.
Early Thursday, the price of US crude rose 12 cents to $55.93 a barrel. Brent crude, the international standard, rose 8 cents to $59.76 a barrel. It rose 1.3% on Wednesday.
Oil prices fell for most of this year amid expectations that companies are pumping enough crude to meet global demand.
Netflix added 0.2% after that Warner Bros.’s board of directors said: Discovery still recommends it Shareholders are approving a buyout offer from the streaming giant for the Warner Bros. business, rather than a competing hostile bid from Paramount Skydance for the entire company.
Warner Bros. stock fell. Discovery fell 2.4%, while Paramount Skydance fell 5.4%.
In other trading early Thursday, the US dollar rose to 155.92 Japanese yen from 155.70 yen. The euro fell to $1.1727 from $1.1743.