US stock futures were little changed on Wednesday as investors awaited Micron Technology’s earnings report, with the memory chip sector continuing to benefit from the global expansion of AI infrastructure. Micron shares gained more than 1% in after-hours trading, while competitor Sandisk added around 1%, recovering slightly after both stocks plunged over 13% during Tuesday’s regular session. Meanwhile, shares of Google parent Alphabet rose roughly 0.5% after S&P Global announced the company would join the 30-stock Dow before trading begins next Monday. In the previous session, the S&P 500 fell 1.44% and the Nasdaq Composite dropped 2.21%, while the Dow lost 0.09%. The selloff was led by AI infrastructure firms, including semiconductor and memory chip makers, as investors grew increasingly concerned that massive AI investments by hyperscalers may generate weaker-than-expected returns.

US Futures Steady Ahead of Micron Results

The NZX 50 dropped 38 points, or 0.3%, to 13,398 in Wednesday morning trade, extending losses from the previous two sessions, as it tracked a decline on Wall Street overnight driven by a steep sell-off in chip stocks amid concerns that AI hyperscalers may be forced to slow spending on AI infrastructure. Traders were also cautious ahead of the release of the US final Q1 GDP data and the May PCE Price Index later this week, which could provide clues about the Federal Reserve's monetary policy decision at its upcoming meeting, after it left interest rates unchanged last week. However, easing oil prices helped limit the decline as inflation concerns eased. Financial, technology, healthcare, and industrial stocks weighed on the index, with notable losses from Summerset Group (-2.3%), Fletcher Building (-2.1%), Ryman Healthcare (-1.3%), Gentrack Group (-1.1%), Hallenstein Glasson (-1.1%), Mainfreight (-0.9%), and Infratil (-0.6%).

NZX Falls for 3rd Session, Tracking Wall Street Lower

The Ibovespa rose 0.5% to close at 171,259 on Tuesday after opening lower, diverging from the sharp selloff on Wall Street as markets digested the latest Copom minutes. According to Banco Central do Brasil, policymakers are considering both a pause and a resumption of Selic cuts as possible paths to bring inflation back to target. In the document, the central bank acknowledged that upside risks to inflation currently outweigh downside risks while leaving the next policy steps open and data-dependent. Banking stocks posted gains, with Bradesco up 0.9% and Banco do Brasil rising 1.4%. Utilities also moved higher, with Axia gaining 2.6% after news it is preparing a debenture issuance of up to R$1 billion, maturing in 2036. Other notable gainers included Ambev (+1.2%) and WEG (+1%). In contrast, Vale fell 1.9% after its board unanimously approved a shareholders’ meeting on July 22 to vote on the removal of chairman Daniel Stieler, following a request from its largest shareholder, Previ.

Ibovespa Rises on Copom Outlook

The Dow Jones Index dropped 47 points or 0.09 percent on Tuesday to close at 51665 points. Losses were led by Nvidia (-3.99%), Caterpillar (-3.55%) and Honeywell International (-2.37%). Offsetting the fall, top gainers were IBM (4.92%), Merck (3.54%) and J&J (3.36%).

The Dow Jones Index Closes 0.09% Lower

The S&P/TSX Composite Index fell 0.2% to close at 34,927 on Tuesday, tracking global equities amid a broad selloff in technology stocks and persistent concerns over elevated interest rates. Worries that speculative AI spending by hyperscalers may be running ahead of fundamentals weighed on North American tech shares and hurt overall risk appetite. Celestica plunged 6.2%, leading losses in the tech sector. Gold prices also declined, extending pressure on mining stocks following the hawkish projections from the US Federal Reserve last week. Agnico Eagle shed 3.5%, Barrick lost 4.7%, and WPM dropped 4.1%. Meanwhile, oil prices fell for a second straight session as supply concerns eased amid progress in restoring shipments through the Strait of Hormuz, reducing fears of energy-driven inflation but weighing on energy shares.

TSX Slips on Global Tech Selloff

US stock indices closed negative on Tuesday amid a selloff in heavyweight chip producers. The S&P 500 fell 1.4%, and the Nasdaq 100 lost 3.3% as AI infrastructure companies, including semiconductor and memory chip producers, tanked on increasing skepticism that AI spending by hyperscalers will not meet returns. Also, SK Hynix slowed production of advanced AI chips to boost commodity DRAM capacity, a sign that demand for compute could slow. Nvidia (-3.1%), Micron (-13.2%), AMD(-5.8%), Broadcom (-3.1%), Sandisk (-11.2%), and Qualcomm (-8%) posted losses. Tesla lost 4.7% and Oracle slipped 5.7%. Meanwhile, SpaceX added 1%, rebounding as it issued bonds only one week after its IPO, adding to caution on colossal capital expenditure. Treasury yields remained elevated despite the decline in energy prices following the hawkish dot plot last week, limiting any respite for traditional sectors of the economy. Gains for healthcare and consumer defensive companies aided the Dow to close near flat.

US Stocks Close Lower on Tech Selloff

A selloff for heavyweight chip producers pressured US equity indices on Tuesday. The Nasdaq 100 slid 3% and the S&P 500 dropped 1%. AI infrastructure companies, including semiconductor and memory chip producers, tanked on increasing skepticism that AI spending by hyperscalers will not meet returns. On top of that, SK Hynix slowed production of advanced AI chips to boost commodity DRAM capacity, a sign that demand for compute could slow. Micron, Lam Research, Sandisk, and Qualcomm plunged close to 10%, Tesla lost 5%, and Nvidia and Oracle slipped 3.5%. On the same note, SpaceX plunged 16% before rebounding as it issued bonds only one week after its IPO, adding to caution on colossal capital expenditure. Treasury yields remained elevated despite the decline in energy prices following the hawkish dot plot last week, limiting any respite for traditional sectors of the economy. Still, gains for healthcare and consumer defensive companies aided the Dow to hover around the flatline.

Chip Stocks Hold Selloff

The FTSE MIB declined 1.5% to close at 52,024 on Tuesday, as a global sell-off in technology stocks weighed on investor sentiment. Semiconductor firm STMicroelectronics led the decline, plunging near 8% amid concerns over elevated valuations in artificial intelligence-related companies and renewed market volatility. The automotive sector also weakened, with losses in Ferrari (-1.5%) and Stellantis (-6.8%). Banking and insurance stocks contributed to the market's decline, led by losses in Intesa Sanpaolo (-1.5%), UniCredit (-1.5%), Assicurazioni Generali (-0.8%), BPER Banca (-0.7%) and BMPS (-0.6%). Elsewhere, Prysmian declined 4.1%. Utilities were relatively resilient, with Enel and Terna advancing on the back of lower oil prices, although Snam ended the session in negative territory.

FTSE MIB Closes Sharply Lower

The FTSE MIB Index dropped 772 points or 1.46 percent on Tuesday to close at 52024 points. Losses were led by STMicroelectronics (-8.12%), Stellantis N.V. (-6.95%) and Prysmian (-4.28%).

The FTSE MIB Index Closes 1.46% Lower

The DAX Index decreased 246 points or 0.98 percent on Tuesday to close at 24894 points. The decline was led by Infineon (-5.86%), Siemens Energy (-3.93%) and Vonovia (-3.21%). On the upside, the strongest performers were SAP (2.13%), Airbus (1.97%) and Qiagen NV (1.51%).

The DAX Index Closes 0.98% Lower

The CAC 40 Index fell 59 points or 0.71 percent on Tuesday to close at 8341 points. Leading the losses are STMicroelectronics (-9.11%), Stellantis NV (-6.43%) and Legrand (-4.15%). Top gainers were Eurofins Scientific SE (2.77%), Dassault Systemes (2.35%) and Airbus (1.97%).

The CAC 40 Index Closes 0.71% Lower

The FTSE 100 Index gained 16 points or 0.15 percent on Tuesday to close at 10454 points. Gains were led by Bunzl (5.32%), British American Tobacco (3.35%) and Diageo (2.77%). Biggest losers were Antofagasta (-5.46%), Anglo American (-4.99%) and Glencore (-4.53%).

The FTSE 100 Index Closes 0.15% Higher

The FTSE MIB fell 1.5% to close at 52,024 on Tuesday, retreating from record highs and hitting a one-week low as investors reassessed the outlook for global monetary policy. Markets increasingly expect the US Federal Reserve to deliver a total of 50 basis points in rate hikes by year-end to contain inflationary pressures. In Europe, traders also continued to price in an additional 25 basis-point increase from the ECB later this year, despite Christine Lagarde recently downplaying concerns over second-round inflation effects. Financial stocks traded lower, with Intesa Sanpaolo down 1.6% and UniCredit losing 1.4%. STMicroelectronics led losses, sliding 8.1% amid a global tech sell-off as concerns mounted that the sector’s recent rally may have outpaced fundamentals, with scrutiny intensifying over AI-related spending and elevated valuations. Stellantis dropped 6.7% after reporting slower sales growth in Europe. Other notable laggards included Ferrari (-1.5%) and Prysmian (-4.1%).

FTSE MIB Retreats From Record Highs

The CAC 40 fell 0.7% to close at 8,341 on Tuesday, extending losses for a third straight session as investors reassessed the outlook for global monetary policy. Markets increasingly expect the US Federal Reserve to deliver a total of 50 basis points in rate hikes by year-end to contain inflationary pressures. In Europe, traders also continued to price in an additional 25 basis-point increase from the European Central Bank later this year, despite Christine Lagarde recently downplaying concerns over second-round inflation effects. Financial stocks traded lower, with Societe Generale down 1.5%. Luxury stocks were mixed as risk aversion increased, with L'Oréal down 0.3%, Hermès losing 1%, and Kering falling 0.9%, while LVMH rose 0.6%. STMicroelectronics plunged 8.1%, tracking Wall Street as technology stocks came under pressure amid concerns that AI-driven valuations have become overstretched. Industrials were mixed, with Schneider Electric down 4%, while Airbus gained 2.2%.

CAC 40 Dips on Hawkish Fed and ECB Prospects

European equity indices closed sharply lower from records on Tuesday as a selloff in the tech sector drove markets to trim their position in risk. The Euro STOXX 50 fell 1.2% to 6,235 and the STOXX Europe 600 dropped a softer 0.5% to 636. ASML slipped 5.5% and Infineon lost 5.8% amid concerns that hyperscalers overspent on AI infrastructure and will be forced to slow expenditure should returns fail to match their guidance. The latest triggers were more cash being raised by SpaceX after its IPO, while Korean SK Hynix announced it would slow production of AI chips to allocate capacity on commodity DRAM chips. Industrial giants with exposure to datacenter projects also retreated, with Siemens and Schneider dropping 2.5% and 4%, respectively. On the other hand, pharmaceuticals closed higher, with Sanofi gaining 1.5% after the EU approved its Cenrifki treatment. PMI data reflected a softer-than-expected contraction in the Eurozone private sector activity.

European Stocks Pull Back from Records

The FTSE 100 edged higher on Tuesday, outperforming global markets that suffered from souring sentiment surrounding artificial intelligence stocks. The UK index was supported by gains in major healthcare and consumer firms, as AstraZeneca rose 2.5%, GSK added 1.9%, Unilever climbed 1.6%, and British American Tobacco gained 3.4%. Additionally, Bunzl shares surged over 5% after a strong first half led the company to raise its annual revenue growth outlook. Conversely, mining stocks fell sharply, with Antofagasta dropping 5.6% and Anglo American losing 5%. Investors also monitored local political developments following the resignation of Prime Minister Keir Starmer, with Andy Burnham widely expected to succeed him amid concerns over soaring public debt approaching 100% of economic output. These market movements unfolded alongside fresh economic data showing the domestic services sector contracted at its fastest rate in nearly three and a half years in June.

FTSE 100 Outperforms Global Markets

The DAX 40 pared early losses but still closed about 0.7% down at 24,973 on Tuesday, dragged by tech-related stocks amid concerns over AI firms' capital expenditures and prospective Fed rate hikes. Meanwhile, investors also monitored progress on US-Iran negotiations, including the 60-day license granted by the US allowing Iran to sell its oil on the international market. The chip segment was the hardest hit, with Infineon Technologies sliding over 5%. The construction company Hochtief (-3.8%) and Siemens Energy (-3.5%) also posted steep losses. Both had benefited significantly from the massive investments in data centers in recent months. Vonovia shares dropped 3.4%  following the announcement of a convertible bond issue. On the upside, heavyweight SAP and Airbus were the top gainers, adding more than 2% each. RWE reversed initial losses and rose 0.5% following the announcement of a €4 billion capital raise for a majority stake in Amprion.

DAX Finishes Lower

The S&P/TSX Composite Index fell 0.5% to trade below the 35,000 mark on Tuesday, tracking global equities amid a broad selloff in technology stocks and persistent concerns over elevated interest rates. Worries that speculative AI spending by hyperscalers is running ahead of fundamentals weighed on North American tech shares and hurt overall risk appetite. Celestica plunged nearly 7%, leading losses in the tech sector. Gold prices also declined, extending pressure on mining stocks after the hawkish projections from the US Federal Reserve last week. Agnico Eagle, Barrick, and Franco-Nevada lost around 3%, while WPM fell more than 4%. Meanwhile, oil prices dropped for a second straight session as supply concerns eased amid progress in restoring shipments through the Strait of Hormuz, reducing fears of energy-driven inflation but weighing on energy shares.

TSX Slips on Global Risk-Off Mood

The Ibovespa edged lower to trade below the 170,000 mark on Tuesday, tracking a broader risk-off mood as a selloff in technology stocks weighed on global markets. Losses were broad-based, led by Vale, which fell 2.2%. Vale’s board unanimously approved the call for a shareholders’ meeting on July 22 to vote on the removal of its chairman, Daniel Stieler, following a request from the miner’s largest shareholder, Previ, triggering an internal dispute over the position. Utility stocks also moved lower, with Axia and Sabesp down around 1%. Major banks declined after minutes from the latest Banco Central do Brasil meeting showed policymakers see Selic paths closer to market expectations as more appropriate. On Monday, the BCB’s Focus survey showed the year-end Selic forecast rising from 13.75% to 14.00%. Bradesco and Itaú both lost more than 0.5%. Other notable laggards included Petrobras (-0.6%), WEG (-1%), and Embraer (-1%).

Ibovespa Slips as Global Tech Selloff Weighs

The Dow Jones Index is losing 332 points. Losses were led by Caterpillar (-4.70%), Nvidia (-3.09%) and Cisco Systems (-2.77%). Offsetting the fall, top gainers were IBM (3.29%), Amgen (2.79%) and Microsoft (2.19%).

The Dow Jones Index Opens 0.64% Lower

US equity indices slumped on Tuesday amid a selloff in the heavyweight tech sector. The Nasdaq 100 slid 3%, the S&P 500 dropped 1.5%, and the Dow lost 0.5%. AI stocks tanked on increasing skepticism that spending by hyperscalers will not meet returns. Nvidia and Tesla lost 4%. On the same note, SpaceX plunged 16% as it issued bonds only one week after its IPO, adding to fears of colossal capital expenditure. Chip stocks slipped as SK Hynix slowed production of advanced AI chips to boost commodity DRAM capacity, also aligned with concerns that AI datacenter speculation does not match fundamentals. Micron tanked 11% ahead of its earnings tomorrow and Sandisk lost over 12%. Treasury yields remained elevated despite the decline in energy prices following the hawkish dot plot last week, limiting any respite for traditional sectors of the economy. Finance was pressured as Apollo once again capped private equity withdrawals.

US Tech Stocks Sell Off

Futures tracking the S&P/TSX Composite Index fell on Tuesday, tracking global equities amid a selloff for tech companies in the US and risks of high interest rates. Concerns that the volume in speculative spending on AI by hyperscalers was not backed by fundamentals pressured North American tech stocks and lowered risk sentiment across equity markets. Shopify was set to open sharply lower. Gold prices also declined, weighing on mining shares to extend their pressure after the hawkish projections by the US Fed last week. Meanwhile, oil prices fell for a second straight session as supply concerns eased amid progress in restoring shipments through the Strait of Hormuz, reducing fears of energy-driven inflation but weighing on energy stocks.

TSX Futures Dip on Tech Selloff

India’s BSE Sensex closed about 1.2% lower at 76,201 on Tuesday, reversing yesterday's advance, as investors booked profits across IT, metals, banking and financial counters. Market sentiment was dented by persistent foreign outflows, prospects of higher US interest rates and softer business activity data. A preliminary PMI survey showed India’s private sector growth eased in June, with services at a 17-month low and manufacturing at a three-month low. The IT sector was the hardest hit amid a global tech selloff, with Jefferies and Morgan Stanley highlighting weak demand signals following a subdued outlook from Accenture Plc. Infosys and TCS fell more than 3% each. Tata Steel fell 2.7%, tracking weaker global metal prices, amid concerns over a potential Fed rate hike. HDFC Bank and ICICI Bank shed 1.5% and 1%, respectively. On the upside, pharma stocks such as Sun Pharma rose 0.2% after reports that the US regulator contacted Indian drugmakers to supply a key cancer treatment drug.

Sensex Closes Sharply Lower

The SENSEX Index decreased 893 points or 1.16 percent on Tuesday to close at 76201 points. The decline was led by Infosys (-3.42%), Tata Consultancy (-3.20%) and Tata Steel (-3.00%).

The SENSEX Index Closes 1.16% Lower

MBI 10 decreased to 9655.00 Index Points, the lowest since December 2024. Over the past 4 weeks, MBI 10 INDEX lost 1.01%, and in the last 12 months, it decreased 5.53%.

Stocks in Macedonia Hit 18-month Low

US equity futures slumped on Tuesday amid a selloff in the heavyweight tech sector. Contracts for the Nasdaq 100 slid 3%, the S&P 500 dropped 1.5%, and the Dow lost 0.7%. AI stocks tanked on increasing skepticism whether large spending in AI infrastructure by hyperscalers will bring returns. The fears drove Alphabet and Amazon to sink nearly 4% on Monday. On the same note, SpaceX plunged 16% as it issued bonds only one week after its IPO, adding to fears of colossal spending on AI. Meanwhile, chip stocks were set to slide as SK Hynix slowed production of advanced AI chips to boost commodity DRAM capacity, also aligned with concerns that AI datacenter speculation does not match fundamentals. Micron slipped ahead of its earnings tomorrow. Treasury yields remained elevated despite the decline in energy prices following the hawkish dot plot last week, limiting any respite for traditional sectors of the economy. Finance was pressured as Apollo once again capped private equity withdrawals.

US Futures Slide on Tech Selloff

The DAX 40 fell more than 1% to around 24,800 on Tuesday, giving back the previous session’s gains, amid a tech selloff and as investors awaited updates on US-Iran peace talks. Tech stocks on Wall Street were hit by heavy profit-taking on Fed tightening expectations, with weakness in the sector spreading more broadly. On the economic data front, preliminary PMI data from Germany came in below expectations in June. Infineon Technologies dropped over 4% and led losses among stocks. Siemens Energy (-4%), Hochtief (-3%) and Volkswagen (-2.4%) also fell significantly. Vonovia SE declined more than 2% following the announcement of a convertible bond issue, while RWE AG fell 1.4% after confirming plans to acquire a majority stake in Amprion.

Tech Selloff Weighs on DAX

The FTSE MIB fell more than 1% to around 52,000 on Tuesday, retreating from record levels to hit a one-week low. Semiconductor firm STMicroelectronics led losses, sliding over 6% as it tracked a global tech sell-off, as worries mounted among investors that the technology sector’s recent surge may have run ahead of fundamentals, with scrutiny intensifying over artificial intelligence-driven spending and elevated equity valuations. Other notable laggards included several banks, such as UniCredit (-0.9%), Intesa Sanpaolo (-0.8%), Assicurazioni Generali (-0.9%), Banco BPM (-1%), and FinecoBank (-1.8%). Auto stocks also came under pressure, with Ferrari down 1% and Stellantis falling 3%. Increased Fed rate-hike bets also weighed on sentiment, while markets kept track of developments in US-Iran peace negotiations.

FTSE MIB Falls Over 1%

The CAC 40 fell 0.8% to 8,329 on Tuesday, extending losses for a third consecutive session as investors reassessed the outlook for global monetary policy. Markets increasingly expect the Federal Reserve to deliver a total of 50 bps of rate hikes by year-end to counter inflationary pressures fueled by rising energy prices amid persistent Middle East tensions. In Europe, traders also continued to price in an additional 25 bps rate increase from the ECB later this year, despite ECB President Christine Lagarde recently dismissing concerns over second-round inflation effects. Domestically, flash Composite PMI rose to 47.6 in June from 44.9 in May, surpassing market expectations of 46.0, driven by a return to growth in manufacturing activity (50.7 vs 49.7 in May) and a softer contraction in the services sector (47.4 vs 44.3). On the corporate front, STMicroelectronics plunged 5.3% as technology stocks came under pressure amid concerns that AI-driven valuations have become overstretched.

French Stocks Fall for 3rd Session

The FTSE 100 fell about 0.6% on Tuesday, reversing yesterday's modest advance, weighed down by miners and tech investment funds while investors continued to assess the political situation in the UK. Copper miners Antofagasta and Anglo American are down 5.2% and 4.2%, while gold miners Fresnillo and Endeavour slipped 5% and 2.4%, respectively. Scottish Mortgage Investment Trust, which has significant exposure to US tech and a large stake in SpaceX, fell 4.5%, following a technology selloff on Wall Street.

UK Stocks Fall

European equities traded lower on Tuesday, with the STOXX 50 declining 0.9% and the STOXX 600 falling 0.8%, as a broad-based sell-off in technology stocks weighed on sentiment following weakness on Wall Street yesterday. Investor concerns are growing that the technology sector's strong rally may have become overstretched, with increasing questions around whether AI-related investments and valuations. Tech stocks were among the worst performers, including STMicroelectronics (-4.7%), ASML Holding (-3.5%), and Infineon Technologies (-3.3%). The mining sector was another notable laggard, namely Anglo American (-3.6%), Glencore (-3.4%), and Rio Tinto (-2.9%). In contrast, healthcare stocks outperformed. Sanofi gained 1.5% after the EU approved its Cenrifki treatmen. On the macroeconomic front, preliminary PMI data from Germany came in below expectations, reinforcing concerns about continued weakness in private-sector activity and the broader economic outlook.

Tech Sell-Off Extends Across Europe

The FTSE 100 Index is dropping 75 points. Leading the losses are Antofagasta (-5.97%), Fresnillo (-5.05%) and Anglo American (-4.74%). Top gainers were Marks & Spencer (2.68%), Babcock International (1.94%) and British American Tobacco (1.42%).

The FTSE 100 Index Opens 0.72% Lower

The DAX Index is losing 290 points. Losses were led by Infineon (-4.10%), Siemens Energy (-3.87%) and Volkswagen (-3.03%).

The DAX Index Opens 1.16% Lower

The CAC 40 Index is falling 65 points. Losses were driven by STMicroelectronics (-6.40%), Stellantis NV (-3.49%) and Schneider Electric (-3.31%). Biggest rises came from Eurofins Scientific SE (1.76%), Capgemini (1.63%) and Carrefour (1.13%).

The CAC 40 Index Opens 0.77% Lower

The TAIEX, Taiwan’s benchmark stock index, fell 641 points, or 1.3%, to close at 47,101 on Tuesday, snapping a six-session winning streak, as traders took profits after the index hit a record high a day earlier. The broader market retreated from a fresh high of 47,571 reached on Monday, surpassing the 47,000 level for the first time, mainly weighed down by electronic technology, manufacturing, and technology services stocks. Electronic technology stocks shed 1.6%, reversing a 3.1% surge in the previous session, with TSMC, the world's largest contract chipmaker and a company accounting for more than 40% of the market's total value, falling 0.8% after a 3.1% jump on Monday. TSMC surged following reports that it is accelerating its CoWoS rollout, a technology that replaces traditional round wafers. Meanwhile, Delta Electronics dropped 3.2%, while Hon Hai Precision Industry declined 3.4%, after rising 0.9% and 2.2%, respectively, a day earlier.

TAIEX Retreats from Record High, Ends 1.3% Lower

The Shangai Composite Index fell 57 points or 1.37 percent on Tuesday to close at 4106 points. Leading the losses are China Molybdenum (-9.98%), Zijin Mining (-9.00%) and Aluminum Corporation of China (-7.61%).

The Shangai Composite Index Closes 1.37% Lower

Australia's ASX 200 fell 29 points or 0.3% to close at 8,787 on Tuesday, sliding for a fourth straight session and reversing early gains as U.S. stock futures dropped sharply on a Wall Street tech sell-off and rising bond yields. The benchmark index hit its lowest in over a week as caution built ahead of domestic CPI data Wednesday and labor market figures later this week, both seen as key for the Reserve Bank’s next move after holding cash rates steady last week. Losses were broad, led by electronic tech, producer manufacturing, logistics, and consumer sectors. Viva Energy dropped 3% after confirming its Geelong refinery will restart this week following April’s fire but will operate without its alkylation unit until 2027, curbing gasoline output. Miners also weighed, with Northern Star down 2.8%, Evolution Mining off 2.2%, and Fortescue easing 1.5%. In contrast, the four major banks advanced between 0.4% and 0.9%, tempering declines.

ASX 200 Finishes 0.3% Lower

The Nikkei 225 Index dropped 1854 points or 2.56 percent on Tuesday to close at 70500 points. Losses were led by Furukawa Electric (-15.59%), Mitsui Mining & Smelting (-12.36%) and Softbank (-10.05%).

The Nikkei 225 Index Closes 2.56% Lower

European equity markets were set to open lower on Tuesday, after closing at fresh records in the previous session, as attention continued to remain on US–Iran peace negotiations and political developments in the UK. The US Treasury issued a 60-day license authorizing the production, shipment, and sale of Iranian oil, pushing crude prices to a three-month low. Still, Iran’s nuclear program remains a major source of uncertainty, following Vice President JD Vance’s claim that Tehran had agreed to host nuclear inspectors, which Iranian authorities have denied. On the economic front, markets will be closely monitoring the latest PMI data across the region, due out later today. In premarket trading, Euro Stoxx 50 and Stoxx 600 futures were 0.9% and 0.7% lower, respectively.

European Stocks Set to Open Lower

The NZX 50 inched down 10 points, or 0.1%, to close at 13,436 on Tuesday, extending losses from the prior session, mainly weighed down by materials, industrials, and healthcare stocks. Traders were cautious as they anticipated the release of the US final Q1 GDP data and the May PCE Price Index, due this week, for clues on the Fed's monetary policy decision at its upcoming meeting, after it held interest rates steady last week. Gains in consumer staples, financials, and communication services limited the decline. However, easing oil prices capped the fall as inflation fears eased amid ongoing US-Iran peace talks, while Washington granted Iran a 60-day license to sell oil on international markets. Vulcan Steel dropped 3.0%, Briscoe Group fell 2.3%, Auckland International Airport was down 1.9%, Sanford fell 1.7%, Fisher & Paykel Healthcare declined 1.6%, Ebos Group shed 1.2%, and Mainfreight was down 1.0%.

New Zealand Equities End Slightly Lower

India’s BSE Sensex opened little changed at 77,125 on Tuesday, after posting gains in the previous session as investors paused following a strong rally over the past week and assessed global market cues. Market participants remained focused on developments in global energy markets, with lower oil prices helping to support the outlook for the world's third-largest oil importer. At the same time, investors monitored expectations for US monetary policy, as uncertainty surrounding the Federal Reserve's interest-rate path weighed on risk appetite across Asian markets. On the data front, investors also await India’s HSBC Composite PMI flash reading for June later today for fresh clues on the strength of economic activity. Among notable gainers were Pace Digitek (10.7%), EMS (9.4%), Piramal Pharma (9%), and Kirloskar (6.9%), while the main losers included Vedanta (-6.3%), Infosys (-2.7%), and Paras (-2.6%).

Sensex Trades Flat in Early Deals

The TAIEX, Taiwan’s benchmark stock index, dropped 170 points, or 0.4%, to 47,571 in Tuesday morning trading, snapping a six-session winning streak, as traders took profits after the index hit a record high a day earlier. The broader market retreated from a fresh high of 47,571 reached on Monday, surpassing the 47,000 level for the first time, mainly weighed down by electronic technology, manufacturing, and technology services stocks. Electronic technology stocks fell 1.1%, reversing a 3.1% surge in the previous session, with Delta Electronics falling 2.3%, while Hon Hai Precision Industry declined 2.1%, after rising 0.9% and 2.2%, respectively, a day earlier. Meanwhile, TSMC, the world's largest contract chipmaker and a company accounting for more than 40% of the market's total value, edged up 0.2%, easing sharply from a 3.1% surge in the previous session. Meanwhile, producer manufacturing stocks plunged 3.3%, mainly weighed down by Elite Material (-3.9%) and King Slide Works (-2.9%).

TAIEX Pulls Back from Record High on Profit-Taking

Indonesia’s shares fell 37 points, or 0.6%, to 6,080 in early Tuesday trade, extending losses following Wall Street’s tech-led decline overnight ahead of U.S. inflation data later this week. Sentiment weakened further on reports that major Japanese automakers may relocate factories from Indonesia to Vietnam, raising concerns over layoffs. Power disruptions in Java also underscored infrastructure risks. Meanwhile, index provider MSCI is set to review later this week whether to downgrade Indonesia to frontier market status, a move that could trigger heavy capital outflows. Still, losses were partly contained by Finance Minister Purbaya Yudhi’s remarks that May indicators remain strong, citing manufacturing PMI, M0 growth of 14.8% yoy, and banking credit expansion of 11.5%. Most sectors slipped, led by transport, industry, and healthcare. Notable decliners included Transcoal Pacific (-9.3%), Bukit Asam (-3.9%), Bank Jago (-3.7%), and Harum Energy (-2.4%).

Indonesia Stocks Drop Further on Factory Exit Concerns

The Hang Seng Index fell 0.3% to 23,766 on Tuesday, extending losses from the previous session as concerns over global interest rates outweighed support from easing geopolitical tensions. Sentiment was underpinned by signs of progress in US-Iran peace talks, which helped keep oil prices near recent lows and supported risk appetite across Asian markets. However, investors remained cautious after the Federal Reserve signaled that borrowing costs could stay elevated for longer amid lingering inflation pressures. Regional sentiment was mixed, with equities struggling for direction after Wall Street ended mostly lower despite a sharp drop in crude prices. Investors also monitored developments in Hong Kong's IPO market and the upcoming release of locked-up shares, which could add to market volatility in the coming weeks. Among notable losers, Tencent (-1.7%), Knowledge Atlas (-5.0%), and Xiaomi (-2.7%) declined. Meanwhile, SMIC (+3.2%), Dongyue Group (+3.2%), and Lenovo (+0.3%) advanced.

Hong Kong Stocks Edge Lower

The Shanghai Composite slipped 0.2% to 4,154 on Tuesday, while the Shenzhen Component fell 0.8% to 16,237, with both benchmarks retreating from a one-month high and an over eleven-year peak, respectively, tracking overnight losses on Wall Street amid pressure on tech stocks. Several major US tech names posted sharp declines, with SpaceX shares plummeting on a new bond sale announcement, while Alphabet dropped after another prominent AI researcher reportedly departed for a rival firm, fueling concerns about intensifying competition in the sector. Chinese technology and semiconductor stocks also traded lower, including Hygon Information Technology (-1.0%), Semiconductor Manufacturing International Corporation (SMIC) (-1.4%), Eoptolink Technology (-0.9%), Victory Giant Technology (-1.5%), and Huagong Tech (-1.1%).

China Stocks Track Wall Street Declines

The benchmark KOSPI fell more than 2% to around 8,890 on Tuesday, retreating from record highs and tracking overnight losses on Wall Street as a selloff in major technology stocks weighed on sentiment. Investors also remained cautious over elevated valuations and increasing regulatory scrutiny of leveraged products tied to South Korea's semiconductor sector, as authorities reviewed measures to address market volatility and record retail leverage. Losses were led by technology heavyweights, with SK Hynix (-2.0%) and Samsung Electronics (-2.7%) trading lower, alongside Hyundai Motor (-5.5%), HD Hyundai Heavy Industries (-2.2%), and Kia Corporation (-4.2%). Meanwhile, downside pressure was partly cushioned by continued strength in the AI semiconductor industry, with SK Hynix overtaking Samsung Electronics as South Korea's most valuable listed company, while Samsung reported HBM4 sales exceeding $1 billion within four months of its launch.

South Korean Shares Drop on Global Tech Selloff

Australian equities edged higher in early Tuesday trade, hovering around 8,830 after three sessions of losses. Investors awaited key May CPI and labor market data that could shape expectations for the Reserve Bank’s next move after it held rates steady last week. In China, the largest trading partner, the central bank kept lending rates unchanged for a 13th month despite cooling demand, with consumption and investment slowing in May. In the U.S., Wall Street closed mostly lower overnight as tech giants sold off, capping sentiment. Gains came from financials, non-energy minerals, and consumer durables, while weakness in electronic tech, healthcare, and logistics limited advances. The four big banks rose between 0.1% and 1%. Other notable movers were BHP Group (0.9%), Macquarie Group (1.4%), and Fortescue (0.8%). Lynas Rare Earths gained 0.5% after China expanded export controls on dual-use materials, reinforcing its premium as the largest non-Chinese producer of separated rare earths.

Australia Equities Inch Up Ahead of CPI, Jobs data

The Nikkei 225 Index fell 0.6% to below 72,000, while the broader Topix Index declined 0.5% to 7,073 on Tuesday, with both benchmarks pulling back from record highs as investors took profits following a strong rally in semiconductor and artificial intelligence-related stocks. Japanese equities also mirrored overnight weakness on Wall Street, where major US technology stocks came under pressure. Meanwhile, investors drew encouragement from signs of progress in ongoing US-Iran negotiations after Washington granted Tehran a 60-day license to sell oil on international markets, fueling expectations of a faster recovery in global supply. Among individual movers, SoftBank Group dropped 5.8%, JX Advanced Metals fell 3.1%, Furukawa Electric lost 4.6%, Taiyo Yuden declined 1.7%, and Murata Manufacturing slipped 3.9%.

Japanese Shares Retreat on Profit Taking

US stock futures edged lower on Tuesday after Wall Street opened the week on a weak note, weighed down by sharp losses in technology shares. During Monday's regular session, the S&P 500 and Nasdaq Composite declined 0.37% and 1.32%, respectively, while the Dow Jones added 0.29%. Major tech stocks led the downturn, with Alphabet falling 5%, Microsoft losing 3.2%, Amazon dropping 4.8%, Broadcom sliding 4.7%, and Meta Platforms shedding 2.3%. SpaceX also sank 16.4%, marking its third consecutive losing session after unveiling a new bond offering. Meanwhile, Micron jumped 6.8% after announcing a strategic partnership with Anthropic. On the geopolitical front, the US granted Iran a 60-day license to sell oil on global markets, boosting expectations for a faster recovery in crude supply.

US Futures Edge Lower After Tech-Led Drop

The NZX 50 was almost flat, trading around 13,453 in Tuesday morning trade after falling in the prior session, as gains in industrials, consumer staples, and real estate stocks were offset by declines in energy, communication services, and healthcare. Traders also anticipated the release of the US final Q1 GDP data and the May PCE Price Index, due this week, for clues on the Fed's monetary policy decision at its upcoming meeting, after it held interest rates steady last week. Investors also continued to monitor developments in US-Iran peace talks amid Israel's attacks across southern Lebanon despite ongoing diplomatic efforts. Turners Automotive Group advanced 1.5%, A2 Milk rose 1.2%, and Ryman Healthcare climbed 0.9%, while Meridian Energy, Summerset Group, and Auckland International Airport fell 0.7%, 0.6%, and 0.5%, respectively.

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