US EditionWorld Shares Track US Stock Market's Rise to Record Highs Despite AI Bubble Worries
Asian equity markets hit record highs following the U.S. Federal Reserve's rate cut, while Oracle's shares fell 10.8% amid concerns over its AI investment strategy.
- Friday trading saw Asian benchmarks climb as Wall Street hit records despite Oracle's sell-off; Hong Kong's Hang Seng rose 1.4%.
- The Fed on Wednesday cut its main interest rate for the third time this year and indicated another cut may be ahead in 2026, while Wall Street's appetite for lower rates boosted buying.
- Market breadth was positive across Asia as Hong Kong's Hang Seng index rose 1.4%, Shanghai Composite index gained 0.2%, and Japan's Nikkei 225 index climbed 1.2%, while Nvidia fell 1.5% amid AI-sector weakness.
- The steep drop in Oracle's AI stocks highlights doubts about whether AI spending will pay off, with Oracle falling 10.8% and weighing on the AI industry.
- Investors remain cautious ahead of next week's Bank of Japan meeting, where a rate rise is expected, while China's Central Economic Work Conference aims to reverse investment declines and boost spending.
65 Articles
65 Articles
Associated Press News
Asian shares track US stock market's rise to record highs despite AI bubble worries
Asian shares are higher, tracking Wall Street's rise to records despite a sell-off for Oracle as worries persist about a potential bubble in artificial-intelligence technology.
Asian stocks rise at open after S&P 500 hits record high
Asian stocks opened higher, mirroring record highs in US and global equities following the Federal Reserve's interest-rate cut. SoftBank Group saw a significant jump, while caution lingered for some tech names despite the broader rally. The market anticipates continued momentum into year-end and potentially 2026.
Wall Street is close to setting record highs, even as Oracle tumbles on AI worries
Wall Street is rising toward records, even as a sell-off for Oracle and worries about a potential bubble in artificial-intelligence technology weigh on the market. The S&P 500 inched up 0.2% Thursday and was on track to eke past its…
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