Asian stocks extended a punishing sell-off on Wednesday as record chip earnings failed to calm doubts over the price investors are paying for the artificial-intelligence boom. South Korea remained at the centre of the retreat, while a jump in oil and an unusually uncertain Federal Reserve decision added fresh pressure. The market is no longer
UBS stock faces an early test on Wednesday after the Swiss bank delivered a larger-than-expected second-quarter profit, stronger wealth inflows and a fresh buyback pledge, giving investors several reasons to look beyond the headline beat. Net profit attributable to shareholders reached $2.8 billion, above the $2.4 billion average forecast in a company-compiled analyst poll. UBS
Softbank stock continued its strong downward trend, reaching its lowest level since April this year. It dropped to ¥4,595, down by nearly 50% from the year-to-date high. This retreat has pushed its valuation substantially lower to the current ¥30.4 trillion. Softbank stock drops as key portfolio companies face major headwinds Softbank, a large telecommunications company
XRP has traded under renewed pressure since July 27, falling from around $1.10 to an intraday low near $1.05 as the US Senate delayed consideration of the Digital Asset Market Clarity Act. According to CoinGecko data, XRP extended losses through July 28 after Senate Majority Leader John Thune gave priority to a Russia sanctions package
The Hang Seng Index has outperformed its major Asian peers this year, even as the Kospi and Nikkei 225 have come under pressure. The index has rebounded nearly 14% from its lowest level this year, while the Nikkei 225 and Kospi have fallen about 15% and 40%, respectively, from their year-highs. Investors rotate to Chinese
Silver price (XAG/USD) traded 1.14% higher at around $57.80 during the Asian trading session on Wednesday. The white metal gained despite a sharp rebound in oil prices, which rose amid renewed tensions between the United States and Iran. The move in silver came as investors continued to monitor developments in the Middle East. The latest
Gold held near $4,029 an ounce on Wednesday as traders avoided large bets before a Federal Reserve decision that could reset the outlook for interest rates, the dollar and bullion after weeks of volatile trading. Spot gold was little changed at $4,029.08 by 0301 GMT, while August US futures slipped 0.2% to $4,028.10. The muted
PENGU price has dropped despite Pudgy Penguins’ comic debut as token unlock weighs on sentiment PENGU has extended its decline after the launch of Pudgy Penguins’ first physical comic book series, with the token slipping toward key support as profit-taking and weak technical indicators have outweighed enthusiasm around the brand’s latest product expansion. The token
Micron chief executive Sanjay Mehrotra sold shares worth about $37.3 million on Friday as the memory-chip maker suffers its steepest monthly slide in years. The transaction covered 40,000 shares and preceded Micron’s 8.9% fall on Tuesday to $820.53. The stock is down more than 29% in July and 32% from its June peak, reflecting fears
European shares edged higher on Wednesday, supported by gains in mining and energy stocks. Investors continued to track developments in the Middle East while also looking ahead to earnings reports from major US technology companies. The pan-European STOXX 600 rose 0.35% to 648.54 points by 0704 GMT. The move reflected a cautious rise in European