{"id":28597,"date":"2024-06-25T11:27:54","date_gmt":"2024-06-25T11:27:54","guid":{"rendered":"https:\/\/www.xtrememarkets.com\/?p=28597"},"modified":"2024-06-25T11:27:54","modified_gmt":"2024-06-25T11:27:54","slug":"asian-stocks-climb-following-wall-street-nvidia-falls-amid-cooling-ai-hype","status":"publish","type":"post","link":"https:\/\/www.xtrememarkets.com\/US\/asian-stocks-climb-following-wall-street-nvidia-falls-amid-cooling-ai-hype\/","title":{"rendered":"Asian Stocks Climb Following Wall Street, Nvidia Falls Amid Cooling AI Hype"},"content":{"rendered":"<h1><strong>Asian Stocks Climb Following Wall Street, Nvidia Falls Amid Cooling AI Hype<\/strong><\/h1>\n<p><span style=\"font-weight: 400;\">Asian <a href=\"https:\/\/www.xtrememarkets.com\/US\/stocks\/\"><strong>stocks<\/strong><\/a> experienced a rise on Tuesday, even as mixed results were observed on Wall Street, primarily due to a further decline in Nvidia amid cooling enthusiasm for artificial intelligence (AI) stocks. Despite the fall of this tech giant, the majority of U.S. stocks managed to rally, leading to higher U.S. futures and stable oil prices.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In Japan, the Nikkei 225 index saw a significant 1% jump to 39,190.97 following the release of data from the Bank of Japan, which indicated a 2.5% increase in the services producer price index for May year-over-year. This marked a slight deceleration from April\u2019s 2.7% rise. Meanwhile, the Japanese yen strengthened against the dollar, which drew considerable attention in the forex markets.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Hong Kong\u2019s Hang Seng index rose by 0.5% to 18,109.80, while the Shanghai Composite index experienced a minor setback, dipping 0.3% to 2,953.95. Australia\u2019s S&amp;P\/ASX 200 increased by 1.2% to 7,829.70, and South Korea\u2019s Kospi added 0.4% to 2,774.54. In other parts of Asia, Taiwan\u2019s Taiex and the SET in Bangkok both enjoyed modest gains.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">On Wall Street, the S&amp;P 500 dropped slightly by 0.3% to 5,447.87, primarily dragged down by Nvidia\u2019s 6.7% fall, marking its third consecutive day of losses. In contrast, the Dow Jones Industrial Average fared better, climbing 0.7% to 39,411.21. The Nasdaq composite was pulled down 1.1% to 17,496.82, reflecting the decline in tech stocks.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The energy sector, however, stood out positively, with stocks such as Exxon Mobil and SLB posting gains of 3% and 4%, respectively. Financial stocks also showed strength, with JPMorgan Chase and Wells Fargo recording increases ahead of upcoming stress test results from the Federal Reserve.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Nvidia\u2019s recent declines have sparked concerns over a potential bubble in the AI sector, as its stock has soared by 1,000% since late 2022, largely driven by the demand for its AI chips. This rapid growth has led to fears of overly high expectations among investors. Moreover, Nvidia\u2019s significant market size means that its stock movements have a pronounced impact on the S&amp;P 500 and other indices.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Other companies that have benefited from the AI boom also saw some retrenchment. For instance, Super Micro Computer&#8217;s shares dropped by 8.6%, pulling its year-to-date gains down to below 200%.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In the bond market, Treasury yields slightly decreased, with the yield on the 10-year Treasury note dropping to 4.23% from 4.26%. This decrease is part of a broader trend of falling yields since late April, buoyed by hopes that easing inflation might prompt the Federal Reserve to cut interest rates later in the year.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Overall, the market dynamics reflect a mix of optimism and caution, with sector rotations suggesting a healthy adjustment despite the overarching influence of a few large companies on overall market performance.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Asian Stocks Climb Following Wall Street, Nvidia Falls Amid Cooling AI Hype Asian stocks experienced a rise on Tuesday, even as mixed results were observed on Wall Street, primarily due to a further decline in Nvidia amid cooling enthusiasm for artificial intelligence (AI) stocks. Despite the fall of this tech giant, the majority of U.S.<\/p>\n... <a href=\"https:\/\/www.xtrememarkets.com\/US\/asian-stocks-climb-following-wall-street-nvidia-falls-amid-cooling-ai-hype\/\">continue reading<\/a>.","protected":false},"author":1,"featured_media":28598,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[15],"tags":[682,168,157,270,148,2311],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v16.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\r\n<title>Asian Stocks Climb Following Wall Street, Nvidia Falls Amid Cooling<\/title>\r\n<meta name=\"description\" content=\"Asian stocks experienced a rise on Tuesday, even as mixed results were observed on Wall Street, primarily due to a further decline\" \/>\r\n<link rel=\"canonical\" href=\"https:\/\/www.xtrememarkets.com\/US\/asian-stocks-climb-following-wall-street-nvidia-falls-amid-cooling-ai-hype\/\" \/>\r\n<meta 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