Asian Shares Slip as AI Spending Fears Hit Kospi 1.66% Ahead of Nvidia, Fed
Updated
Updated · CNBCTV18 · Aug 24
Asian Shares Slip as AI Spending Fears Hit Kospi 1.66% Ahead of Nvidia, Fed
3 articles · Updated · CNBCTV18 · Aug 24
Summary
MSCI's Asia Pacific gauge edged down 0.1% on Monday, led by a 1.66% drop in South Korea's Kospi, while Japan's Nikkei fell 0.49% and Hang Seng futures lost 0.5%.
Alibaba's plan to raise about HK$80 billion through a 710 million-share sale at HK$112.7, alongside a report that Nvidia may lift system prices next year, sharpened concerns over rising AI costs.
Nvidia earnings and the Federal Reserve's annual gathering now loom over a packed regional reporting week, with about 370 MSCI Asia Pacific members due to post results.
Oil added another layer of caution: Brent fell 1% to $93.45 and WTI dropped 1.1% to $86.13, though crude is still up more than 50% this year after the six-month US-Iran conflict disrupted supply.