Asian markets ended mixed on Tuesday amid caution ahead of key US inflation data that could impact expectations for the Federal Reserve's next monetary policy meeting later this month. South Korea’s Kospi index tumbled more than 5% after a heavy sell-off in memory-chip and artificial intelligence-related stocks after reports that Chinese memory chip maker CXMT made rapid technological advances on a new memory architecture, challenging major manufacturers like Samsung Electronics, SK Hynix, and Micron Technology. Meanwhile, stretched AI valuations and Broadcom Chief Executive Hock Tan’s comments comparing AI investors to gamblers also fuelled further worry.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,800.87 | 3.62 | 0.10 |
Hang Seng | 24,345.22 | 74.02 | 0.30 |
Jakarta Composite | 5,925.98 | - | - |
KLSE Composite | 1,623.35 | 5.34 | 0.33 |
Nikkei 225 | 67,777.52 | - | - |
Straits Times | 5,430.50 | 15.02 | 0.28 |
KOSPI Composite | 6,035.35 | - | - |
Taiwan Weighted | 48,341.31 | - | -1.95 |
