Asia stocks slip as tech jitters grip markets ahead of Nvidia earnings
Asian shares fell on tech sector nerves ahead of Nvidia results, while oil prices slipped after US Iran sanctions threat underwhelmed.
Business
Oil prices hold steady as Iran sanctions and tanker attack offset supply fears
Oil prices steadied after a 2% drop, as investors weighed expanded US sanctions on Iran against a tanker attack near Oman.
SK Hynix union narrowly rejects wage deal amid AI chip boom
SK Hynix union members reject tentative wage deal by a narrow margin, voting 50.08% against the 6.3% pay rise and bonus revision.
Gold Scales Fresh Highs as Treasury Buyback Plan Fuels Rally
Gold extended its rally to a four-month high, driven by the US Treasury's expanded buyback program, as investors await key inflation data and Fed guidance.
Blackbird Raises A$1.05 Billion for Australia, NZ Tech Bets
Blackbird, an early Canva investor, has raised A$1.05 billion to back tech and AI firms in Australia and New Zealand.
Woodside Energy beats profit forecasts as Middle East tensions lift oil prices
Woodside Energy's first-half profit edged past estimates on higher oil prices, prompting a dividend hike and a new cost-cutting target.
Alibaba shares slide 8% after record $10.2 billion Hong Kong share sale
Alibaba's shares dropped 8% in Hong Kong after a $10.2 billion share placement priced at a discount, with proceeds earmarked for AI infrastructure.
KOSPI slides 1.3% as Samsung's payout plan underwhelms investors
South Korea's KOSPI fell 1.31% as Samsung Electronics tumbled 6.31% on a smaller-than-expected shareholder return plan, while the won strengthened.
UAW Members Reject John Deere's Contract Extension Proposal
UAW members at John Deere voted to reject the company's proposal to extend the existing labor contract through 2029.
Dollar wavers near multi-month lows as Treasury buyback plan spooks markets
The dollar hovers near multi-month lows as Treasury's long-bond buyback plan fuels debasement worries, with traders eyeing key speeches and sanctions.
Hormuz crude debate masks Asia's real refined fuel shortage
Asia's refined fuel imports are down 21% since February, with poorer nations bearing the brunt, even as the crude transit debate continues.
Gold Climbs to Three-Month High as Markets Await US Inflation Data
Gold prices hit a three-month high on Monday, driven by a weaker dollar and safe-haven demand ahead of US inflation data and Fed Chair speech.
Asian Shares Steady as Investors Await Iran Sanctions and Nvidia Results
Asian shares were flat on Monday as investors awaited U.S. Iran sanctions details, Nvidia earnings, and Fed comments.
Chicago Corn Hits Three-Year High on US Crop Worries
Chicago corn futures jumped to a three-year high after a crop tour found US yields below expectations. Wheat rose on Black Sea export risks, while soybeans slipped.
Samsung shares slide 5% despite record shareholder return plan
Samsung Electronics shares fell over 5% Monday after the company said shareholder returns could hit 110 trillion won this year.
Ampol's Half-Year Profit Jumps Nearly Five-Fold on Record Refining Margins
Ampol's interim profit surged nearly five-fold to a record A$857.2 million, driven by sharply higher refining margins amid Middle East supply disruptions.
Eni Sees Nuclear Fusion as Its 'Next Refinery'
Eni plans to develop a commercial nuclear fusion plant in Europe by the early 2040s, partnering with US startup Commonwealth Fusion Systems.
Sinopec H1 profit up 19.3% despite Middle East conflict, weak fuel demand
Sinopec's first-half net profit rose 19.3% year-on-year to 25.63 billion yuan, despite the Middle East conflict and weak domestic fuel demand.
India's largest business delegation to Japan: Goyal to lead 200-member team
Commerce Minister Piyush Goyal will lead India's largest-ever business delegation to Japan from August 24-27, covering Tokyo, Nagoya and Osaka.
Rajnath Singh Launches Rs 3,300 Crore Defence Manufacturing Push in West Bengal
Defence Minister Rajnath Singh laid foundations for five projects by GRSE and YIL in West Bengal, investing over Rs 3,300 crore to expand shipbuilding and metallurgical capabilities.