Stock markets: Asia weak following Jensen Huang’s resignation – focus on AI stocks
The departure of Nvidia’s CEO has sparked mixed reactions in Asian markets and is affecting technology shares, as investors assess the implications for artificial intelligence. Tokyo closes up 0.53 per cent
Key points
Asian markets are showing mixed trends, as investors assess the implications of the resignation of Jensen Huang’s resignation as CEO of Nvidia for the global artificial intelligence industry.
US futures rose slightly, despite initial losses on Wall Street, where Nvidia’s share price fell by more than 4 per cent following Huang’s departure from the company.
Tokyo on the rise: Asian indices
In Japan, the Nikkei 225 index rose by 0.8 per cent to 61,283.16 points, before retreating slightly to close the session up 0.53 per cent. Shares in Tokyo Electron, a manufacturer of semiconductor equipment, rose by 1.5 per cent, whilst Kioxia Holdings, which operates in the memory sector, fell by 2.5 per cent and SoftBank Group, an investor in OpenAI, recorded a fall of 5.2 per cent.
In South Korea, the benchmark Kospi index fell by 0.5 per cent to 5,317.05 points. Samsung Electronics, one of the country’s most valuable companies, fell by 0.7 per cent, whilst memory chip manufacturer SK Hynix dropped by 2 per cent.
In Taiwan, the Taiex index rose by 1.7 per cent, buoyed by the semiconductor giant TSMC (Taiwan Semiconductor Manufacturing Co.), which gained 0.9 per cent.
