BANGKOK — Asian stock markets largely saw declines on Thursday following a mixed outcome in U.S. markets, where the S&P 500 managed a minor gain. In Tokyo, the Nikkei 225 experienced a slight increase of 0.2%, reaching 38,198.96.
In contrast, Hong Kong’s Hang Seng index fell by 0.8% to 23,618.74, while the Shanghai Composite index decreased by 0.5%, landing at 3,364.05, with tech stocks facing significant losses after posting earlier gains. Australia’s S&P/ASX 500 grew by 0.3% to settle at 8,268.60, whereas South Korea’s Kospi fell 0.9% to 2,618.77. Taiwan’s index experienced a drop of 0.8%, while Thailand’s SET index saw a minor gain of under 0.1%.
U.S. stock indexes concluded with mixed results on Wednesday, with the S&P 500 rising by 0.8% to 5,956.06, thereby breaking a four-day decline similar to one that had previously driven it below its peak value. The Dow Jones Industrial Average dipped 0.4% to finish at 43,433.12, and the Nasdaq composite climbed by 0.3%, reaching 19,075.26. Recent market struggles have been linked to reports reflecting weaker-than-expected economic performance, stirring concerns about inflation and heightened tariffs initiated by former President Donald Trump.
Particularly affected were Big Tech and high-growth stocks, which had previously maintained impressive momentum. Super Micro Computer, a company involved in the artificial intelligence tech surge, saw its stock value plummet by almost 25% in a mere four days, though it rebounded by 12.2% on Wednesday after submitting its annual fiscal report.
Attention remained fixed on Nvidia, a key player in the booming AI sector. Ahead of its latest earnings announcement, Nvidia’s shares rose 3.7%. Post-market, the company unveiled substantial profit and sales growth spurred by high demand for its unique Blackwell chips, crucial for AI systems. This was its first earnings overview since a Chinese entity, DeepSeek, disrupted the AI space by developing a language model challenging major U.S. tech, raising doubts about expected investments in Nvidia’s chips and related AI infrastructure.
Meanwhile, major tech firms reaffirmed AI investments, signaling positive expectations for the sector. The U.S. Commerce Department is set to release its conclusive evaluation on the economic performance for 2024’s final quarter; despite ongoing growth, uncertainty looms over the future economic landscape, with a crucial inflation report due out on Friday. Concerns grow over potential drops in U.S. consumer spending, a critical growth determinant, amid persistent inflation.
Early Thursday trades saw U.S. benchmark crude oil prices increase by 19 cents to $68.81 per barrel on the New York Mercantile Exchange. Brent crude, used as a global price benchmark, rose by 22 cents to $72.29 per barrel. Currency markets showed the U.S. dollar strengthening against the Japanese yen, moving up to 149.34 yen from 149.10 yen, while the euro dipped slightly to $1.0475 from $1.0483.
