Asian equities climb as chip stocks rally and oil prices slip
The GIFT Nifty pointed to a bullish start for India’s Nifty50, while Asian markets rose on cheaper chip shares and falling oil.
The GIFT Nifty signaled that India’s Nifty50 could open higher, with futures trading at 23,082, a gain of 96 points. Across the Asia-Pacific region, equity markets moved up as investors snapped up chip stocks that had been pressured by AI-related concerns. Japan’s one outlet 225 rose 1.8% and South Korea’s KOSPI jumped 2.72%, reflecting the tech rally.
Meanwhile, Brent crude extended its decline, pressured by expectations that the United States may relax limits on the shadow fleet. In the United States, the Dow Jones and S&P 500 finished the day up 1.08% and 0.33%, while the Nasdaq edged higher by 0.08%. Commodity futures showed modest moves, with gold and silver edging up and December Brent quoted at $105.59, down 0.32% on the Intercontinental Exchange. Several Indian companies, including Bajaj Housing Finance and Federal Bank, are set to release Q2 earnings, and a slate of IPOs such as Tonbo Imaging India and Zetwerk entered the second day of subscription.
How this story developed
- Oct 13 Asian markets tumble as US chip slump drags South Korean shares below 3%
- Oct 14 US semiconductor index fell 2.7% and the Nasdaq 100 slipped 0.7%, widening the regional decline.
- Oct 15 CoreWeave’s shares dropped 6% and its 2031 bond yields rose above 16% as investors fret over its $50 billion debt load and AI-related borrowing.
- Oct 16 CoreWeave rebounded 6% after a steep decline, lifting broader semiconductor shares.
- Oct 18 CoreWeave’s bond yields rose above 16 % and default‑insurance costs jumped to about 1,000 basis points.
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