Samsung Electronics and SK Hynix stocks rebounded on Friday, as bargain hunters returned to South Korea’s biggest chipmakers after Thursday’s bruising sell-off.The recovery looked less like a fresh fundamental reset and more like a correction in sentiment after investors appeared to overreact to Meta’s cloud-computing plans.The bigger question now is…
Asian markets found a steadier footing on Friday as investors took a softer US jobs report as a reason to dial back fears of an immediate Federal Reserve rate hike. The move was not a simple risk-on surge. It was more measured than that. Chip stocks bounced after a bruising…
The Hang Seng Index retreated by over 10% in the first half of the year as some of the biggest Chinese technology companies lagged behind their global peers like the Nikkei 225 and Kospi, which jumped by 34% and 85%, respectively. Top Hang Seng Index stocks have retreated this yearHong Kong’s…
Chipmaker Nvidia has introduced a new revenue-sharing programme designed to support fast-growing artificial intelligence startups by providing access to computing power in exchange for a share of future revenue.The company announced that the initiative will offer token credits to AI startups to help power their development.Under the programme, cloud-based AI…
Cathie Wood’s ARK Innovation ETF has bought back into SoFi Technologies (NASDAQ: SOFI) just as the beaten-down fintech stock is trying to recover from a difficult first half of the year.ARKK bought 299,753 SoFi shares across June 29, June 30 and July 1, worth about $5.5 million based on SoFi’s July…
The US economy added just 57,000 jobs in June, well below economists’ expectations, in a sign that the labor market is losing momentum even as the unemployment rate unexpectedly declined a notch.Data released by the Labor Department on Thursday showed nonfarm payrolls increased by 57,000 in June, less than half…
The Roundhill Memory ETF (DRAM) retreated for the second consecutive day as jitters in the memory industry accelerated. The fund, which has become a $24.3 billion behemoth, retreated to $62.45 in the pre-market, down by 22.75% from its highest point this year.Why the DRAM ETF is fallingDRAM is a top…
Shopify stock has rebounded in the past few weeks, moving from the year-to-date low of $94.47 to the current $121.63. This rebound may continue, helped by its modest revenue growth and encouraging technicals.Shopify stock jumps after crucial settlementShopify, the operator of the biggest e-commerce software, soared after reaching a settlement…
The Japanese yen jumped sharply on Thursday as traders braced for a potential intervention by the Bank of Japan (BoJ). The USD/JPY pair retreated to a low of 160.62 from the year-to-date high of 162.84. US published weak non-farm payrolls dataThe USD/JPY pair retreated after the US published the latest non-farm…
The Hang Seng Index retreated by over 10% in the first half of the year as some of the biggest Chinese technology companies lagged behind their global peers like the Nikkei 225 and Kospi, which jumped by 34% and 85%, respectively. Top Hang Seng Index stocks have retreated this yearHong Kong’s…