{"id":117028,"date":"2025-11-04T07:27:09","date_gmt":"2025-11-04T07:27:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/117028\/"},"modified":"2025-11-04T07:27:09","modified_gmt":"2025-11-04T07:27:09","slug":"asian-shares-trade-lower-after-ai-darlings-prop-up-wall-street","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/117028\/","title":{"rendered":"Asian shares trade lower after AI darlings prop up Wall Street"},"content":{"rendered":"\n

TOKYO (AP) \u2014 Asian shares retreated Tuesday despite the big lift in overseas markets from optimism over AI technology<\/a>, as traders sold shares to lock in recent profits.<\/p>\n

Japan’s benchmark Nikkei 225 dipped 1.7% to 51,497.20 following a national holiday on Monday.<\/p>\n

Australia’s S&P\/ASX 200 shed 0.9% to 8,813.70.<\/p>\n

South Korea’s Kospi dipped 2.4% to 4,121.74, reversing after a rally took it to record highs in recent days.<\/p>\n

Hong Kong’s Hang Seng erased earlier gains to fall 0.6% to 25,983.29, while the Shanghai Composite lost 0.4% to 3,960.19.<\/p>\n

On Monday, gains for Nvidia<\/a>, Amazon and other AI superstars propped up share prices. The S&P 500 rose 0.2% and pulled closer to its all-time high <\/a> set last week, even though the majority of stocks in the index sank. The Dow Jones Industrial Average dropped 226 points, or 0.5%, and the Nasdaq composite climbed 0.5%.<\/p>\n

Nvidia<\/a> was the strongest force lifting the S&P 500, as it has been for much of the year so far. The chip company rose 2.2% to bring its gain for the year to date to 54.1%.<\/p>\n

Amazon was the No. 2 force pushing the market higher. It rallied 4% after announcing a $38 billion agreement with OpenAI<\/a>, which will use Amazon\u2019s cloud computing services to run its AI workloads.<\/p>\n

IREN, an AI cloud service provider, jumped 11.5% after Microsoft<\/a> announced a $9.7 billion contract<\/a> with it that will give the tech giant access to some of Nvidia\u2019s chips.<\/p>\n

Palantir Technologies, which came into the day with a stunning 165% gain for the year so far, rose another 3.3%. Traders pushed the AI darling higher in the final hours before the data platform company reported its latest quarterly results after trading closed for the day.<\/p>\n

Companies across the U.S. stock market will need to hit expectations for growth in profit to justify the big gains for their stock prices since April. Criticism has been rising <\/a> that the broad U.S. market, and AI stocks in particular, have become too expensive and could be inflating into a dangerous bubble similar to the 2000 dot-com bust.<\/p>\n

For the most part, companies have been meeting the high expectations for profits. Four out of every five companies in the S&P 500 have topped analysts\u2019 forecasts so far this reporting season, according to FactSet. With roughly two-thirds of all S&P 500 reports in, companies in the index are on track to deliver healthy growth of nearly 11% versus a year earlier.<\/p>\n

On the losing end of Wall Street on Monday was Kimberly-Clark, which dropped 14.6% after it said it would buy Kenvue<\/a> in a deal valuing it at $48.7 billion. Kenvue, which sells Tylenol, Band-Aids and Listerine, jumped 12.3%.<\/p>\n","protected":false},"excerpt":{"rendered":"TOKYO (AP) \u2014 Asian shares retreated Tuesday despite the big lift in overseas markets from optimism over AI…\n","protected":false},"author":2,"featured_media":117029,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[365,17692,414,363,364,111,139,1042,69,15278,145],"class_list":{"0":"post-117028","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-artificial-intelligence","8":"tag-ai","9":"tag-ai-technology","10":"tag-amazon","11":"tag-artificial-intelligence","12":"tag-artificialintelligence","13":"tag-new-zealand","14":"tag-newzealand","15":"tag-nvidia","16":"tag-nz","17":"tag-shanghai-composite","18":"tag-technology"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/117028","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=117028"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/117028\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/117029"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=117028"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=117028"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=117028"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}