Asian Markets Await Powell's Speech Amid Mixed Global Stock Reactions
On Thursday, Asian shares mostly rose as traders anticipated Federal Reserve Chair Jerome Powell’s speech. While Wall Street faced losses with AI stocks like Nvidia declining, Asian markets showed resilience despite ongoing U.S. tariff pressures. Key indices in Tokyo, Hong Kong, and Shanghai exhibited varied movements.
- Country:
- Philippines
Asian markets mostly advanced on Thursday, with traders looking towards pivotal remarks from Federal Reserve Chair Jerome Powell. The anticipation stems from the central bankers' meeting in Jackson Hole, which may provide insights into future U.S. monetary policy.
This comes as Wall Street experienced a rollercoaster, especially with tech giants involved in artificial intelligence. Stocks like Nvidia and Palantir faced substantial drops amidst concerns over inflated valuations and uncertain returns from AI investments.
Amidst this backdrop, Japan's Nikkei and China's Shanghai indices displayed marginal losses and gains, reflecting the broader uncertainty in global financial markets. Meanwhile, markets in South Korea and Australia posted more robust performances, ahead of Powell's speech.
(With inputs from agencies.)
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