Apple<\/a> and the memory plays.”<\/p>\nAs the Seoul market reopened after a holiday, Samsung Electronics jumped 14.8%, topping a $1 trillion market value, overtaking Berkshire Hathaway and closing in on Walmart.<\/p>\n
“Due to the capex spend we are seeing from hyperscalers in the U.S., the earnings growth trajectory for sectors such as semiconductors, tech hardware, industrials and materials in Asia exceeds anything I have seen in a long time,” said Rushil Khanna, head of equity investments for Asia at Ostrum, an \u200caffiliate of Natixis Investment Managers.<\/p>\n
“This capex is leading to material value creation in \u200bAsia as the provider of the picks and shovels to the AI ecosystem,” he said.<\/p>\n
Shares \u200bin Advanced Micro Devices jumped 16.5% in extended trading as \u200bthe company forecast second-quarter revenue above Wall Street expectations on Tuesday, helped by keen demand for its data-centre chips \u200cas cloud-computing companies accelerate spending on AI infrastructure.<\/p>\n
In the foreign \u200bexchange markets, the U.S. dollar index, \u200bwhich measures the greenback’s strength against a basket of six currencies, was down 0.3% at 98.02.<\/p>\n
The euro stood at $1.1736 and sterling was at $1.3588, both up around 0.4% so far on the day.<\/p>\n
The Australian dollar fetched $0.7246, rising about 0.9% to the highest since June 2022, buoyed \u200bby improved risk appetite and underpinned by a \u200cthird straight interest-rate hike a day earlier. The New Zealand dollar was up 1% at $0.5947.<\/p>\n
The yield on the U.S. 10-year Treasury \u200bbond was flat at 4.424%.<\/p>\n
Gold was 2.1% higher at $4,651.84. In cryptocurrencies, bitcoin nudged 0.5% lower to $81,264.67 while ether was down \u200b0.8% at $2,364.40.<\/p>\n
(Reporting by Gregor Stuart HunterEditing by Shri Navaratnam and Sam Holmes)<\/p>\n","protected":false},"excerpt":{"rendered":"(Corrects typographical error in paragraph 11) By Gregor Stuart Hunter SINGAPORE, May 6 (Reuters) – Stocks leapt, oil…\n","protected":false},"author":2,"featured_media":414209,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[365,363,364,86638,111,139,69,14887,145],"class_list":["post-414208","post","type-post","status-publish","format-standard","has-post-thumbnail","category-artificial-intelligence","tag-ai","tag-artificial-intelligence","tag-artificialintelligence","tag-foreign-exchange-markets","tag-new-zealand","tag-newzealand","tag-nz","tag-president-donald-trump","tag-technology"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/414208","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=414208"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/414208\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/414209"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=414208"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=414208"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=414208"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}