\n<\/p>\n
Market Updates: Stocks Tumble in Asia Amid Chip Sector Decline<\/strong><\/p>\n HONG KONG \u2014 Stock markets in Japan and South Korea faced significant declines on Thursday, led by a sharp drop in computer chip shares. Meanwhile, U.S. futures also dipped after modest losses on Wall Street.<\/p>\n In energy news, oil prices decreased following discussions between U.S. and Iranian negotiators, mediated by representatives from Qatar and Pakistan. Traders continue to watch for advancements in efforts to end the ongoing conflict in Iran.<\/p>\n In South Korea, the Kospi index plummeted by 7.9%, landing at 7,648.09. Notably, memory chip giant SK Hynix fell by 14.6%, while Samsung Electronics dropped 9.1%. In Japan, Tokyo’s Nikkei 225 index fell 2.5% to 68,733.15, with Tokyo Electron, a key player in chip equipment, seeing a 7.4% decline.<\/p>\n Taiwan’s stock exchange, the Taiex, recorded a 0.6% dip, influenced by TSMC (Taiwan Semiconductor Manufacturing Co.), which saw its shares decrease by 1.6%. Conversely, Hong Kong’s Hang Seng index rose slightly by 0.7% to 23,034.34, buoyed by a 7.9% increase in shares of BYD, a local electric vehicle manufacturer, following a second month of sales growth. The Shanghai Composite index fell by 1.6% to 4,046.76.<\/p>\n In Australia, the S&P\/ASX 200 crept up marginally by less than 0.1%, reaching 8,724.50. Meanwhile, India’s Sensex index gained 0.5%.<\/p>\n This year, the surging demand for artificial intelligence has propelled many AI and tech stocks to rise, particularly in South Korea, Japan, and Taiwan. The Kospi and Nikkei 225 have seen impressive gains of approximately 77% and 33%, respectively. However, concerns linger regarding a potential oversupply, given the substantial investments made by major tech companies.<\/p>\n Over in the U.S., chip stocks experienced significant declines, with Micron Technology down by 10.6%, Intel slipping by 9%, AMD losing 6.9%, Broadcom down 2.2%, and Nvidia decreasing by 1.3%. The S&P 500 dipped 0.2% to 7,483.23, while the Dow Jones Industrial Average fell slightly to 52,305.24. The Nasdaq composite dropped by 0.7% to 26,040.03.<\/p>\n Economists from Capital Economics have pointed out that while demand for AI may continue to grow, it might not reach the expected pace. They noted that firms and investors might be underestimating challenges in adopting AI on a broad scale.<\/p>\n In oil markets, prices fell early Thursday below levels seen before the Iran conflict began in late February. Optimism has risen for improved crude supplies with the anticipated reopening of the Strait of Hormuz, a crucial waterway for global oil trade, although ship traffic remains limited. Brent crude dropped 1.4% to $70.60 per barrel, and U.S. crude fell 1.5% to $67.52 per barrel.<\/p>\n On the currency front, the U.S. dollar was trading at 161.81 Japanese yen, down from 162.58 yen, as the yen reached a four-decade low against the dollar on Wednesday. The euro was valued at $1.1392, a slight increase from $1.1377.<\/p>\n\n","protected":false},"excerpt":{"rendered":" Market Updates: Stocks Tumble in Asia Amid Chip Sector Decline HONG KONG \u2014 Stock markets in Japan and South Korea faced significant declines on Thursday, led by a sharp drop in computer chip shares. Meanwhile, U.S. futures also dipped after modest losses on Wall Street. In energy news, oil prices decreased following discussions between U.S.<\/p>\n","protected":false},"author":1,"featured_media":36245,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rank_math_lock_modified_date":false,"footnotes":""},"categories":[34],"tags":[1658,114,34489,33981,6531,4139,26845,33703,36502,2904,47680,6532,1506],"class_list":["post-36244","post","type-post","status-publish","format-standard","has-post-thumbnail","category-technology","tag-artificial-intelligence","tag-business","tag-energy-industry","tag-energy-markets","tag-financial-markets","tag-general-news","tag-information-technology","tag-iran-war","tag-oil-and-gas-industry","tag-semiconductor-manufacturing","tag-stock-markets-iran-war-ai","tag-stocks-and-bonds","tag-world-news"],"_links":{"self":[{"href":"https:\/\/indiabulletinusa.com\/wordpress\/wp-json\/wp\/v2\/posts\/36244","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/indiabulletinusa.com\/wordpress\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/indiabulletinusa.com\/wordpress\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/indiabulletinusa.com\/wordpress\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/indiabulletinusa.com\/wordpress\/wp-json\/wp\/v2\/comments?post=36244"}],"version-history":[{"count":0,"href":"https:\/\/indiabulletinusa.com\/wordpress\/wp-json\/wp\/v2\/posts\/36244\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/indiabulletinusa.com\/wordpress\/wp-json\/wp\/v2\/media\/36245"}],"wp:attachment":[{"href":"https:\/\/indiabulletinusa.com\/wordpress\/wp-json\/wp\/v2\/media?parent=36244"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/indiabulletinusa.com\/wordpress\/wp-json\/wp\/v2\/categories?post=36244"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/indiabulletinusa.com\/wordpress\/wp-json\/wp\/v2\/tags?post=36244"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}