(RTTNews) - The Australian stock market is paring its early strong losses in mid-market trading on Monday, extending the losses in the previous two sessions, following the broadly negative cues from Wall Street on Friday. The benchmark S&P/ASX 200 index is falling well below the 8,400.00 level, with weakness across most sectors led by gold miners and technology stocks. Energy stocks are the only b...
(RTTNews) - The Australian stock market is paring its early strong losses in mid-market trading on Monday, extending the losses in the previous two sessions, following the broadly negative cues from Wall Street on Friday. The benchmark S&P/ASX 200 index is falling well below the 8,400.00 level, with weakness across most sectors led by gold miners and technology stocks. Energy stocks are the only bright spot amid spiking crude oil prices. The benchmark S&P/ASX 200 Index is losing 56.30 points or 0.67 percent to 8,372.10, after hitting a low of 8,262.40 earlier. The broader All Ordinaries Index is down 69.60 points or 0.81 percent to 8,558.70. Australian stocks closed significantly lower on Friday. Among the major miners, BHP Group and Rio Tinto are losing almost 2 percent each, while Mineral Resources is slipping more than 3 percent and Fortescue is declining almost 1 percent. Oil stocks are mostly higher. Beach energy is gaining more than 2 percent and Woodside Energy is edging up 0.4 percent, while Origin Energy and Santos are adding almost 1 percent each. Among tech stocks, Afterpay owner Block is gaining more than 2 percent and Zip is gaining almost 3 percent, while WiseTech Global is sliding more than 4 percent, Appen is declining more than 3 percent and Xero is edging down 0.2 percent. Gold miners are lower. Northern Star Resources is slipping more than 5 percent, Resolute Mining is tumbling more than 7 percent and Genesis Minerals is declining almost 5 percent, while Newmont and Evolution Mining are sliding more than 6 percent each. Among the big four banks, Commonwealth Bank, ANZ Banking and Westpac are edging down 0.2 to 0.5 percent each, while National Australia Bank is declining more than 1 percent. In the currency market, the Aussie dollar is trading at $0.678 on Monday. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Save my User ID and Password Some subscribers prefer to save their log-in information so they do not have to enter their User ID and Password each time they visit the site. To activate this function, check the 'Save my User ID and Password' box in the log-in section. This will save the password on the computer you're using to access the site. Note: If you choose to use the log-out feature, you wil...
Save my User ID and Password Some subscribers prefer to save their log-in information so they do not have to enter their User ID and Password each time they visit the site. To activate this function, check the 'Save my User ID and Password' box in the log-in section. This will save the password on the computer you're using to access the site. Note: If you choose to use the log-out feature, you will lose your saved information. This means you will be required to log-in the next time you visit our site.
The overseas investment arm of China’s Ping An Insurance (Group) Company is reconsidering its exposure to the US as the Iran war fuels waves of volatility. The conflict in the Middle East has upended global markets over the past few weeks, dragging down global equities, pushing US yields to their highest level in months and sparking wild moves in the price of oil. It has also encouraged one of Chi...
The overseas investment arm of China’s Ping An Insurance (Group) Company is reconsidering its exposure to the US as the Iran war fuels waves of volatility. The conflict in the Middle East has upended global markets over the past few weeks, dragging down global equities, pushing US yields to their highest level in months and sparking wild moves in the price of oil. It has also encouraged one of China’s biggest insurers to rethink how it approaches the world’s largest economy. “The key question for me to consider is how much and whether you continue to deploy capital into the US,” said Hoi Tung , CEO and Chairman of Ping An Overseas Holdings, during an event organized by the Milken Institute in Hong Kong. “The US has been rather becoming less reliable, not really rules-based.” Ping An Overseas Holdings is building a portfolio of around $60 billion overseas, with some of that going to investment assets in the US, Tung said. “Now, we think about whether we should trim down a bit, even though the overall portfolio is still very small anyway.” Investors looking to reallocate capital away from the US must think about where to deploy the money, Tung added. He pointed to China as a likely beneficiary. The stability in China’s market and signs of the economy bottoming out could provide investors good opportunities, he said. “I think probably it is a good time for investors to really think about investment into China,” he said. Ping An Overseas Holdings is the Chinese insurer’s main offshore platform for direct investments and asset management. Ping An Group, its ultimate parent, had an investment portfolio of around 5.73 trillion yuan ($830 billion) at the end of 2024. It is due to release its 2025 annual report this week.
South Korean AI startup Upstage says it's in talks with its investor, AMD, for the potential purchase of 10,000 AI chips. Upstage CEO Sung Kim discusses his recent meeting with AMD chief Lisa Su in Seoul, as well as his company's edge in competing in South Korea's AI 'squid game'. He speaks with Minmin Low at the Milken Institute's "Global Investors' Symposium" in Hong Kong. (Source: Bloomberg)
South Korean AI startup Upstage says it's in talks with its investor, AMD, for the potential purchase of 10,000 AI chips. Upstage CEO Sung Kim discusses his recent meeting with AMD chief Lisa Su in Seoul, as well as his company's edge in competing in South Korea's AI 'squid game'. He speaks with Minmin Low at the Milken Institute's "Global Investors' Symposium" in Hong Kong. (Source: Bloomberg)
格隆汇3月23日|小米汽车今日上午在深圳举行新一代SU7车型交付及首交仪式直播,小米创办人、董事长兼 CEO 雷军与小米汽车品牌代言人、中国田径短跑运动员苏炳添一起为新一代SU7首批车主交车。 在交车仪式后的对话环节,雷军谈到了目前火热的机器人行业。雷军表示:在整个机器人赛道里面,我们是六年前就开始做了。可能我们讲得少,大家就觉得小米老赶潮流,其实我们是最早一批做机器人、做四足机器狗、做人形机器人...
格隆汇3月23日|小米汽车今日上午在深圳举行新一代SU7车型交付及首交仪式直播,小米创办人、董事长兼 CEO 雷军与小米汽车品牌代言人、中国田径短跑运动员苏炳添一起为新一代SU7首批车主交车。 在交车仪式后的对话环节,雷军谈到了目前火热的机器人行业。雷军表示:在整个机器人赛道里面,我们是六年前就开始做了。可能我们讲得少,大家就觉得小米老赶潮流,其实我们是最早一批做机器人、做四足机器狗、做人形机器人的公司。 苏炳添表示“当时说做一台机器狗都是亏钱的”,雷军回应称“每一台都是亏钱的,现在也是亏钱。当然整个行业发展还在早期,因为我对整个具身智能机器人是极其看好的”。
Dino Otranto, CEO at Fortescue Metals, discusses the impact of the Iran war on the business and energy markets. He speaks with Stephen Engle at the China Development Forum in Beijing. (Source: Bloomberg)
Dino Otranto, CEO at Fortescue Metals, discusses the impact of the Iran war on the business and energy markets. He speaks with Stephen Engle at the China Development Forum in Beijing. (Source: Bloomberg)
STORY: :: SpaceX SpaceX and Tesla will build two advanced chip factories at a sprawling facility in Austin, Texas. :: File CEO Elon Musk unveiled the so-called 'Terafab' project on Sunday. :: Tesla One facility will make chips for cars and humanoid robots. :: SpaceX The other is designed to make processors for artificial intelligence data centers in space. Musk said that current global chip produc...
STORY: :: SpaceX SpaceX and Tesla will build two advanced chip factories at a sprawling facility in Austin, Texas. :: File CEO Elon Musk unveiled the so-called 'Terafab' project on Sunday. :: Tesla One facility will make chips for cars and humanoid robots. :: SpaceX The other is designed to make processors for artificial intelligence data centers in space. Musk said that current global chip production would meet only a small fraction of his companies’ future needs. He added "we either buld the Terafab or we don't have the chips." :: Tesla The billionaire CEO said Terafab would eventually produce one terawatt of computing capacity a year, compared with about half a terawatt currently made across the U.S. He did not give a timeline for the new project. Musk has previously said Tesla would need to build its own AI chip plant, but the involvement of SpaceX had not been disclosed. The rocket firm is preparing for a public listing that could value it at around $1.75 trillion.
(RTTNews) - Asian stock markets are tumbling on Monday, following the broadly negative cues from Wall Street on Friday, as traders remain cautious and concerned about the fallout of the intensifying war in the Middle East in to the fourth week. Soaring crude oil prices continued to fuel global inflation and economic growth concerns, reinforcing a hawkish tilt among major central banks. Asian marke...
(RTTNews) - Asian stock markets are tumbling on Monday, following the broadly negative cues from Wall Street on Friday, as traders remain cautious and concerned about the fallout of the intensifying war in the Middle East in to the fourth week. Soaring crude oil prices continued to fuel global inflation and economic growth concerns, reinforcing a hawkish tilt among major central banks. Asian markets closed mostly lower on Friday. As the conflict entered its fourth week, Washington and Tehran have traded fresh threats following a wave of damaging Iranian strikes on Israel. Iran's Natanz nuclear enrichment facility was hit in an airstrike Saturday. Two Iranian strikes on towns near Israel's main nuclear research center injured more than 100 people. Tensions in the Middle East persisted after US President Trump threatened to "hit and obliterate" Iranian power facilities if Tehran does not reopen the Strait of Hormuz, while Tehran responded with warnings that any attacks on the country's power plants would "immediately" be met with retaliatory strikes on energy and oil infrastructure across the region. The Australian stock market notably lower on Monday, extending the losses in the previous two sessions, following the broadly negative cues from Wall Street on Friday. The benchmark S&P/ASX 200 index is falling well below the 8,400.00 level, with weakness across most sectors led by gold miners and technology stocks. Energy stocks are the only bright spot amid spiking crude oil prices. The benchmark S&P/ASX 200 Index is losing 56.30 points or 0.67 percent to 8,372.10, after hitting a low of 8,262.40 earlier. The broader All Ordinaries Index is down 69.60 points or 0.81 percent to 8,558.70. Australian stocks closed significantly lower on Friday. Among the major miners, BHP Group and Rio Tinto are losing almost 2 percent each, while Mineral Resources is slipping more than 3 percent and Fortescue is declining almost 1 percent. Oil stocks are mostly higher. Beach energy is gai...