Ahead of the Lunar New Year holiday, the South Korea stock market had moved higher in two of three trading days since the end of the
US markets stabilized Tuesday following a wipeout a day earlier when a Chinese AI startup startled markets with its capacity to compete with American tech giants. Futures for the S&P 500 and the tech-heavy Nasdaq ticked up 0.
The unveiling of a large language model by a Chinese firm that can compete with U.S. giants but at potentially a fraction of the cost was like a "nuclear bomb in the AI technology world", a market expert said on Tuesday.
The technology-dominated index slipped 3.07% to finish at 19,341.83. The S&P 500 shed 1.46% and closed at 6,012.28. The Dow Jones Industrial Average managed to add 289.33 points, or 0.65%, settling at 44,713.58.
The dividend yield of Chinese firms stood at 2.8% at the end of 2024, the highest in 8 years: LSEG data Read more at straitstimes.com.
Wall Street is pointing slightly lower in early trading but is on track to close the week with solid gains on healthy quarterly earnings reports from large U.S. corporations.
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Is the Seychelles Rupee going up or down against the South African Rand? A: Today's exchange rate (1.3015) is lower compared to yesterday's rate (1.2962). Q: What is 50 Seychelles Rupee in South ...
Asian equities are mixed after sharp losses in South Korean chipmakers as the market reopened from holidays and caught up with concerns over AI semiconductor demand. SK Hynix plunged over 10%, and Samsung fell 2.
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Train and bus stations saw a surge in crowds as people continued to arrive for the festival, although some devotees remained nervous after the deadly crush.