Asian Markets Wobble Amid AI Cost Concerns and Geopolitical Tensions

Asian stocks fell as chip-sector declines shadowed U.S. markets, with tech giant warnings about rising AI costs. Japan's yen rose slightly against the dollar. Awaited events include U.S. non-farm payrolls, elections, and a Federal Reserve decision. Regional tensions rose with North Korea's missile test.


Devdiscourse News Desk | Updated: 31-10-2024 12:17 IST | Created: 31-10-2024 12:17 IST
Asian Markets Wobble Amid AI Cost Concerns and Geopolitical Tensions
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Asian markets experienced a downward trend on Thursday, impacted by sector drops in tech stocks following warnings from leading firms about increasing AI expenses. Facebook owner Meta Platforms and Microsoft expressed concerns, ramping up anxieties about Amazon's forthcoming earnings report.

Japan's yen saw an increase post-Bank of Japan's policy statement, hinting at potential interest rate hikes in December. Investors remain cautious ahead of Friday's U.S. non-farm payrolls data and a crucial Federal Reserve policy decision. Meanwhile, Japan's Nikkei index dipped, mirroring uneasy sentiment across South Korea's Kospi.

Heightening regional unrest, North Korea's test of an intercontinental missile marked a point of concern, whereas in China, manufacturing and services showed signs of recovery. Investors are anxious for policy signals from Beijing's upcoming congress amid ongoing typhoon-induced market closures in Taiwan.

(With inputs from agencies.)

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