Emerging-Market Stocks Sink Further as Asian Tech Slide Deepens

Emerging-market stocks plunged for a second straight day, with the benchmark gauge sinking to a three-and-a-half month low as a rout in Asian chip stocks deepened.

By Andras Gergely

Rio Tinto buoyant on AI demand for metals as earnings soar

Miner hails outcome of cost cuts and says data centre investments will raise need for commodities

Shares in Asian chip firms plunge further as AI sell-off continues

Drop comes after South Korean company SK Hynix’s results undershot investors’ expectations Business live – latest updates Shares in companies linked to AI have plunged further after disappointing results from the South Korean chipmaker SK Hynix, sending the country’s stock market tumbling for the second day in a row. Seoul’s Kospi index, which is dominated by semiconductor manufacturers, slid by as much as 12.6% at one point on Wednesday, following on from a near 11% slump the previous day,...

By Joanna Partridge

Minister apologizes as Korean leveraged ETF investors nurse heavy losses amid chip stock rout

Korean retail investors have racked up heavy losses from leveraged bets on stocks, following rule changes earlier this year.

SK Hynix shares sent sprawling once more as earnings miss deepens decline

Weakness in SK Hynix shares can be attributed to excessive leverage by retail investors, fears of Chinese competition and a failure to live up to aggressive expectations but some analysts remain bullish.,

By Jules Rimmer

Copper And Aluminum Plug A Potential Profit Hole For Rio Tinto

Data center demand for copper and aluminum has lifted the half-year profit of Rio Tinto as demand fades for iron ore the company's traditional leader.

By Tim Treadgold, Contributor

South Korean tourist attacked by monkey at Taj Mahal; ambulance arrives an hour later

Court grants JTBC another month for creditor negotiations in rehabilitation process

A court on Wednesday granted JTBC an additional month to continue negotiations with its creditors on restructuring plans amid the local broadcaster's liquidity crisis. The Seoul Bankruptcy Court extended the deadline for JTBC's autonomous restructuring support program to Aug. 30, following its initial approval on June 30. JTBC, an affiliate of media giant JoongAng Group, requested the ARS program when it filed for corporate rehabilitation on June 15, three days after failing to repay 20.6 billio

By The Korea Herald

China chip making breakthrough and AI debt fears hammer semiconductor stocks worldwide

The US technology-heavy Nasdaq 100 fell 1.8pc in early trading

By Momoka Yokoyama

Barclays first half profit beats forecasts at £6.1 billion

Barclays’ first half profits rose by a ​better than expected 17 per cent as it reaped bumper equities trading revenues from volatile markets, although ‌its shares dropped on Tuesday in a sign of high investor expectations for British banks. Profit before tax for the January to June period of £6.1 billion ($8.11 billion) was just […]

'Pray For Kospi': SK Hynix Earnings Miss, Sending Stock Reeling

'Pray For Kospi': SK Hynix Earnings Miss, Sending Stock Reeling Things are not going to be fun in South Korea tonight... Good news first... SK Hynix's net income surged a bigger-than-expected 1,242% (though admittedly on one-time investment gains) with the ginat chipmaker bragging that it won multiyear contracts with around 10 customers. Ok, now the bad news... SK Hynix’s quarterly profit rose a smaller-than expected 557%. The key supplier of Nvidia reported operating profit of...

By Tyler Durden