Asian Stocks Slide as Oil Tops $109 Ahead of AI Earnings
Updated
Updated · Reuters · Oct 20
Asian Stocks Slide as Oil Tops $109 Ahead of AI Earnings
3 articles · Updated · Reuters · Oct 20
Summary
MSCI Asia ex-Japan fell 1.14% and Japan’s Nikkei lost 0.98%, with South Korea’s KOSPI tumbling 3.92% as investors cut risk before results from SpaceX, Netflix, Meta and Tesla.
Brent crude rose 0.08% to $109.64 a barrel and US crude gained to $103.85 as markets weighed Trump’s order easing some Russian energy restrictions and fresh Middle East violence in Yemen.
AI spending remained a key pressure point: Goldman Sachs expects five hyperscalers to lift combined capital expenditure to about $1.2 trillion next year, sharpening scrutiny of returns on that outlay.
South Korea’s Elice Group underscored the fragile mood, debuting nearly 30% below its IPO price after raising 201.1 billion won, while European markets also stayed cautious after riots in France.